SWF takes off in March, to operate three investment windows

With next month as the date for the commencement of the Sovereign Wealth Fund (SWF), the Federal Government, yesterday, explained how the Fund will operate in order to achieve the set goals and objectives.

The Fund, according to the government, will be monitored by the Nigeria Sovereign Investment Authority (NSIA), a corporate governance system put in place fast track the use of the fund.

The National Executive Council (NEC), after its meeting yesterday,  said SWF will be operated along three major investment windows , namely the Stabilisation Fund, Infrastructure Fund and Future Generation Fund.

Disclosing this after the meeting, Minister of Finance and the Coordinating Minister of the Economy (CME), Dr. Ngozi Okonjo-Iweala, who in the company of her counterpart in the National Planning Ministry, Dr. Shamsudeen Usman and the Governor of Anambra State, Mr. Peter Obi, explained that these investment windows will be explored by the Nigeria Sovereign Investment Authority (NSIA), a corporate governance system put in place fast track the use of the fund.

The disclosure came as NSIA Chief Executive Officer, Mr. Uche Orji,  explained that the operation of the SWF is on track, adding that his authority will employ hybrid strategy to run it by trying to keep down the cost of running the organisation through employment of a lean staff.