Second Niger BridgeThe devastating impact of the COVID-19 pestilence on the global economy is obvious. Reason finance experts rightly predicted that many corporations’ finances in 2020 would be in red. The International Monetary Fund did predict that the global economy would contract by three percent as countries around the world shrink at the fastest pace in decades.
The IMF described the global decline as the worst since the Great Depression of the 1930s. x
It said the pandemic had plunged the world into a “crisis like no other”.
The Fund added that a prolonged outbreak would test the ability of governments and central banks to control the crisis.
FG s investment authority grows revenue by 343% to N160bn punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
The net assets of the Nigeria Sovereign Investment Authority (NSIA) have risen to N772.75 billion, an increase of 33 percent in 2020. The Authority’s assets increased by N193.21bn in 2020 higher than the N579.54bn recorded in 2019 despite the COVID-19 pandemic, it said in a statement on Tuesday. We won’t allow people denigrate Buhari […]
Uche Orji, CEO, Nigeria Sovereign Investment Authority (NSIA) The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33 per cent increase over the N579.54 billion recorded in 2019. In its 2020 audited financial statement, the investment institution said it grew income from N36.15 billion in 2019 to N160.06 billion in 2020. NSIA attributed the performance to its investments in international capital markets, improved contributions from subsidiaries/affiliates and exchange gain from foreign currency positions. According to the financial report, NSIA recorded N109 billion as core income compared to N33.07 billion recorded in 2019, excluding devaluation gain of N51 billion.
The Nigeria Sovereign Investment Authority, NSIA, has recorded a total comprehensive income of N160.06 billion, representing about 343 per cent growth in 2020 year, compared to the previous year’s N36.15 billion. The Managing Director, Mr. Uche Orji, disclosed this at a virtual press briefing yesterday.