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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...

The Nigeria Sovereign Investment Authority (NSIA) says that it recorded a total of N160.06 billion in comprehensive income in 2020, representing a 343% growth compared to N36.15 billion recorded in 2019. The growth was attributed to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange rate gain from foreign currency positions despite challenges of the coronavirus pandemic. This disclosure was made by the Managing Director of NSIA, Mr Uche Orji, at a virtual media conference on the presentation of the NSIA...

Spending £4.2million Ibori Loot On Federal Projects Corrupt, Oppressive—Niger Delta Group There has been a debate on how to spend the funds stolen by the ex-Governor since the United Kingdom promised to repatriate it to Nigeria. by SaharaReporters, New York Mar 16, 2021 The founder of the Niger Delta Initiative Austria, Nyherovwo Ochuko Eriema has said the intention of the Nigerian government to spend funds looted by a former Delta State Governor, James Ibori, which are to be recovered on federal projects outside the state is both corrupt and oppressive. It was a small fraction of the almo...