Which statutory institution was established by an Act of the National Assembly in 2011 to manage Nigeria's sovereign wealth across three specialized investment funds?
Answer and explanation
Correct answer: B. the Nigeria Sovereign Investment Authority
- Step 1: Enacted in May 2011, the NSIA Act created the sovereign wealth fund to replace the unconstitutional Excess Crude Account. Step 2. The NSIA allocates capital into the Stabilization Fund, Future Generations Fund, and Nigeria Infrastructure Fund. Answer: the Nigeria Sovereign Investment Authority. Why not the others: AMCON was created in 2010 to resolve non-performing bank loans; DMO coordinates federal debt issuance; BOI provides development finance for manufacturers.
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