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Obinna Chima in Lagos and Emmanuel Addeh in Abuja The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s Sovereign Wealth Fund (SWF), yesterday announced its audited results for its 2020 financial year, reflecting a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year. The results showed that despite the challenges posed by the COVID-19 pandemic in the year under review, the NSIA recorded 343 per cent growth in its total income, which rose to N160.06 billion in 2020, up from the N36.15 billion in the pr...

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. Accor...

By Emmanuel Addeh The Managing Director of the Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, Tuesday disclosed that the organisation which manages the country’s sovereign wealth fund tripled its profits in 2020. Speaking when he appeared on the “Good Morning Show” on Arise Television, THISDAY’s broadcast arm, Orji attributed the relative success recorded by the NSIA last year to the business decisions taken by the authority. He explained that some of NSIA’s portfolios were up by as much as 50 per cent in dollar terms in 2020, predicting that although the financial tec...

Orji attributed the growth, in spite of the challenges of COVID-19, to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions. He added that the authority achieved 33 per cent growth in Net Assets amounting to N772.75 billion as against N579.54 billion in the previous year. He also said that the NSIA received additional contribution of 250 million dollars and provided first stabilisation support of 150 million dollars from the Stabilisation Fund to the Fe...

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