July 28, 2017

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BlackBerry putting itself up for sale -

Wednesday, August 14, 2013

FERMA: A convergence of intent, engagement & perception -

Sunday, August 11, 2013

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Wednesday, August 7, 2013

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Getting the right staff for your business -

Tuesday, August 6, 2013

Nigeria, others to re-evaluate Trans-Saharan gas project -

Monday, August 5, 2013

How Nigerians use social media -

Friday, August 2, 2013

NSIA to manage N3.4tr pension funds -

Friday, August 2, 2013

GOOGLE UNVEILS MOTO X SMARTPHONE… -

Friday, August 2, 2013

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Thursday, August 1, 2013

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Friday, July 26, 2013

Will this fresh initiative against cyber crime work? -

Friday, July 26, 2013

Investors prefer Southwest, says LCCI -

Friday, July 26, 2013

Fed Govt stops project variation beyond 15% of initial cost -

Thursday, July 25, 2013

NSIA to manage N3.4tr pension funds

NSIA to manage N3.4tr pension fund... NAIJA INTEL

THE Nigeria Sovereign Investment Authority (NSIA) is to manage N3.4 trillion pension savings, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said.

She disclosed this yesterday in Abuja during a visit to the NSIA office.

She restated the government’s commitment to seeing that the Sovereign Wealth Fund (SWF) and other funds available for investments were prudently deployed in critical areas of needs and efficiently managed in such a way that it would impact positively on the economy and improve the well-being of Nigerians.

To this end, she said arrangements were being made to make the NSIA design appropriate mechanisms that would help in deploying the idle savings of about N3.4 trillion in core investment areas that would add value to ongoing national infrastructure development programmes.

She added that the arrangement would ensure that contributors don’t suffer before drawing from their pension savings.

Okonjo-Iweala said:“The NSIA has the expertise to work with the pension funds to design a mechanism whereby they can also invest in infrastructure whilst still being protected because this is money that people have worked for. So, it has to be done very carefully so that they earn returns and then be able to carry on with their pension activities.”

She promised that the fund would be protected “because it is money people have worked for but it will also work for the good of the country. So, this is another benefit we didn’t have before. We didn’t have the expertise and now we have got it in this NSIA”.

NSIA to manage N3.4tr pension fund... NAIJA INTEL

NSIA to manage N3.4tr pension fund… NAIJA INTEL

On the financial implication of engaging international funds managers to manage the SWF, the finance minister said: “The investment of the funds is designed to make some returns. It is not that the $1billion is going into fees. It is being invested to make returns; so out of those returns, they (NSIA) have negotiated such low fees.”

According to her, “very little of the additional money from the SWF will go into paying these fees; so the billion is intact; it is not out of that money that we are paying these people”. She said the funds are supposed to be managed to generate more money. “Each fund has a risk profile, so they have taken so much care with the stabilisation, which has to be available and liquid so that if we want to draw on it anytime, it is readily available. But it is making some money and they would be paid out of that money. So if they don’t make money, they don’t get paid,” she argued.

CLICK SOURCE FOR MORE…

IMAGES: http://nsia.com.ng/

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