KPMG to manage Nigerian Sovereign Wealth Fund

Wednesday, 19 October 2011 00:53 - - {{hitsCtrl.values.hits}}

ABUJA (Reuters): Nigeria has begun the implementation of its Sovereign Wealth Fund (SWF), which will be managed by global auditor and consultancy KPMG, the Finance Minister said on Tuesday.

Ngozi Okonjo-Iweala said the Board of the SWF would be confirmed by mid-December.

An initial $ 1 billion has been taken from the Excess Crude Account (ECA) to be used in the SWF. The ECA now contains around $ 5 billion, Okonjo-Iweala said.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.