The Managing Director, Nigeria Sovereign Investment
Authority (NSIA), Mr Uche Orji, has said that all funds
and assets managed by the NSIA were intact and fully
accounted for.
The clarification, contained in a statement made
available to newsmen on Sunday in Abuja, said that the
step bcame necessary “due to speculations on the
state of affairs of NSIA”.
Orji said that the management of NSIA was open and
available to provide details on its operations and
accounts to all its stakeholders.
“NSIA’s funds have been invested profitably, realising a
Net Comprehensive Income of N15.8billion in the year
ended 31st December, 2014, far beyond the N505
million recorded in the first months that ended on
December 31, 2013.
“The seed capital of 1billion dollars has been managed
in three different ring-fenced funds.
“Twenty per cent in Stabilisation Fund, 40 per cent in
Future Generation Fund and 40 per cent in Nigeria
Infrastructure Fund respectively,” he said.
He said that NSIA was currently investing or looking at
investing the Nigeria Future Investment Fund in the
Motorways, Power, Agriculture, Real Estate and
Healthcare sectors.
“NSIA’s total commitment to the Second Niger Bridge
project stands at 2.2million dollars, which has been
disbursed for project development related consultancy
costs.
“In addition, N10.3billion was disbursed on early
construction works on behalf of the Federal Ministry of
Works.
“The Future Generations Fund is being invested in a
diversified range of public, private equities and hedge
funds, using the services of best-in-class investment
managers and global fund custodians,” he said.
Orji reiterated NSIA’s commitment to upholding the
highest standards in corporate governance,
accountability and transparency in the management of
the nation’s fund.
The News Agency of Nigeria (NAN), reports that NSIA is
an agency of the Federal Government set up to manage
funds in excess of budgeted hydrocarbon revenues.
NSIA operates three mandate funds – the Stabilisation
Fund, the Future Generations Fund and the Nigeria
Infrastructure Fund. (NAN)
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