FG’s investment authority grows revenue by 343% to N160bn - Punch Newspapers

The Nigeria Sovereign Investment Authority, manager of Nigeria’s sovereign wealth fund, on Tuesday announced its audited results for 2020 financial year, reflecting a 343 per cent growth in income to N160bn.

The authority said, “Despite the challenges of COVID-19, NSIA had a strong year owing to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions.” The authority received additional contribution of $250m and provided first stabilisation support to the Federal Government of $150m withdrawn from Stabilisation Fund.

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