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Sovereign Wealth Fund well managed- IMF

The International Monetary Fund, IMF Country Office in Nigeria says the Sovereign Wealth Fund is being run in line international best practice.

In a statement, the IMF Country representative, Mr. Amine Mati indicates that the Nigeria Sovereign Investment Authority has worked with development partners to entrench transparency and good governance in the management of the funds.

It adds that the reference in its recently released Fiscal Monitor report about Nigeria draw attention to the management of the Excess Crude Account which it says requires greater transparency on the rules governing deposits, withdrawals and investments.

Biodun Dare

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