Sovereign Wealth Fund Begins Operation in May, Says Okonjo Iweala

Barring any unforeseen hitches, the Sovereign Wealth Fund (SWF) will commence operation in May this year as the Federal Government is concluding arrangements for its effectual take-off. Already, the Federal Government is recruiting the chief executive officer, chief investment officer and the chief risk officer through KPMG – one of the world’s leading management consultancy firms – it appointed to hunt for the key officers that will manage the fund under the Nigeria Sovereign Investment Authority (NSIA).

THISDAY checks revealed that advertisements to that effect were placed in both local and international media outfits by KPMG some months back, calling for qualified personnel to apply for key positions to manage the operations of the Fund. KPMG is playing the executive sourcing function on behalf of the Federal Government and the Federal Ministry of Finance.
This has to do with the short listing of potential candidates for the executive management team. The firm is also supporting the executive nomination committee as prescribed by the Act setting up the SWF.


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