Osinbajo Inaugurates Sovereign Authority Investment Board

Written by on May 13, 2017

Acting President, Yemi Osinbajo, has inaugurated the second board of the Nigeria Sovereign Investment Authority, NSIA.

The inauguration followed endorsement of the nominees by President Muhammadu Buhari.

NSIA, a federal government-owned investment agency, was established to manage the fund set aside for investments in real and financial asset in strategic sectors of the economy.

In February, the National Economic Council (NEC) approved the nomination of six Nigerians for appointment into the board of the NSIA.

Each nominee represents each of the six geo-political zones in the country.

NEC, composed of all 36 Governors, Minister of the Federal Capital Territory and Governor of the Central Bank of Nigeria, had also approved the injection of a fresh $250 million capital into the Sovereign Wealth Fund.

The nominations were approved by council members after the list was tabled by the Minister of Finance, Kemi Adeosun.

They are Halima Buba (North-East), Bello Maccido (North–West), Lois Laraba Machunga-Disu (North Central), Babajide Zetilin (South West), Urum Kalu Eze (South East) and Asue Ighodalo (South-South).

The board which has Zietlin as its chairman was on Friday inaugurated inside the Vice-President’s Conference Room at the Presidential Villa, Abuja.

Osinbajo charged the chairman and other members of the board to see their appointments as calls to service which will require total commitment and dedication of the highest standards.

Osinbajo added that he was confident that the appointees would epitomise the attributes individually and collectively.

“As representatives of the people, our charge is simple: we require you to fundamentally improve the performance of the authority and strengthen its operations,” he said.


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