Connect with us

Economy

NSIA records N36.15bn total comprehensive income in 2019

Published

on

NSIA records N36.15bn total comprehensive income in 2019


The Nigeria Sovereign Investment Authority (NSIA) recorded a Total Comprehensive Income (TCI) of N36.15 billion in 2019.

Ms Stella Ojekwe-Onyejeli, the Executive Director and Chief Risk Officer at NSIA disclosed this at a virtual briefing (newsmen) on Friday in Abuja.

Ojekwe-Onyejeli said the 2019 income was less when compared to the TCI for 2018 which was N44.34 billion.

She explained that the total comprehensive income for 2019 included foreign exchange gains put at N1.26 billion as against N18.05 billion in foreign exchange gains for the previous year

She said that the foreign exchange gains arose due to changes in the currency translation rate from N305 per dollar to N325 per dollar as approved by government.

According to her, NSIA recorded a five per cent growth in total assets in the sum of N32.15 billion, bringing total assets to N649.84 billion at the end of the financial year.

Ojekwe-Onyejeli said that the company’s total assets in 2018 closed at N617.70 billion.

“The Authority continues to manage 3rd party funds on behalf of some government institutions. We currently manage funds for the Debt Management Office (DMO) and the Ministry of Finance.

“For DMO, the current value of Assets under Management (AuM) is 124.03 million dollars. For 2018, this fund stood at 122.60 million dollars in AuM.

“For the Nigeria Stabilisation Fund, managed on behalf of the Ministry of Finance, the Fund Balance was N33.365 billion. As of 2018, this balance increased to N20.814 billion.

“As of year-end 2019, NSIA’s core capital remained at 1.5 billion dollars.

“However, the National Economic Council voted for an additional capital contribution of 250 million dollars in 2019,  which was received on April 8,” she explained.

Speaking on the Stabilisation Fund (SF), the director said the period under review saw policy alignments across major economies which provided clear forward guidance to markets and reducing levels of volatility.”

She further said that as such, the authority’s strategy of investing in diversified products across the yield curve provided returns.

According to her, at year-end 2019, the SF has been fully invested, in terms of return on investments.

He sdid the Stabilisation Fund returned 5.81 per cent, out performing its benchmark by a 381 basis points.

“On the Future Generations Fund (FGF), the Authority maintained its strategy of a systematic deployment of the FGF across global equities, private equity, hedge Funds and ‘other diversifiers.

“In the year under review, the FGF strategically gained more market exposure by investing in global equities and passive funds. In addition, we started making venture capital investments.

“As of year-end 2019, we had deployed over 90 per cent of the capital in the Future Generations Fund.

“The fund returned 6.45 per cent as of year-end, outperforming its benchmark of 6.43 per cent.”

Edited By: Olawunmi Ashafa/Ese E. Ekama (NAN)

Mustapha Sumaila: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Board decries increase in maternal, newborn mortality in Plateau FG will prosecute destroyers of Akanu Ibiam Int’l Airport fence – Minister   IPAC dissolves interim committee, fixes  Sept. 5 for election NiMet predicts cloudy, thundery activities Friday to Sunday Nigeria’s low COVID-19 cases due to low sample collection — NCDC Members pass vote of confidence in ALGON president, Kolade Alabi Osinbajo advocates purpose-built software for virtual court proceedings Oyo govt. to spend N5.5bn to remodel Salami Stadium Resurgence of COVID-19 on health workers worrisome — Minister NGO empowers 40 rehabilitated youths in Kwara LASG gives cash donation to victims of rainstorm in Badagry Left Handers Day: We are blessed, intelligent – Jos left handers Monarchs laud Buhari’s developmental efforts in South East UNnilag VC position not vacant – workers unions 684 evacuees test positive to COVID-19 — PTF FG begins reform of Calabar, Kano special economic zones PenCom mulls contributors RSA transfer window -Official Lagos Police College, LASCODA partner to promote coconut development MTN Nigeria lifts NSE market indices further by 0.38% Christian group urges FG to end banditry, kidnapping, others CAN announces intercessory prayer session over insecurity in Nigeria Banditry in Katsina will soon fizzle out – Sen. Barkiya TETFUND could perform well with available resources – Minister Gov. Diri urges Agip to relocate to Bayelsa Abia needs competent leaders, not zoning — Otti ActionAid Nigeria urges small-holder women farmers on NAIC facilities UK, Nigeria partner on regulatory reforms on right of way 38,000 vulnerable households to benefit from CACOVID relief items in Zamfara    FG inaugurates team on digital innovation for improved service delivery  Be transformational leaders, President, Nigeria Baptist Convention charges new board members Senate committees begins scrutiny, consideration of 2021-2023 MTEF, FSP document How to further boost Nigeria’s GDP — Onu Minister lauds FCTA press corps over accurate reportage, professional conduct UN seeks $1.8bn intervention to assist 7.8m Nigerians ALGON interim c’ttee seeks stakeholders’ support, cooperation on new leadership COVID-19: Firm donates 25,000 facemasks to FCTA 818m children lack access to handwashing facilities in schools- WHO/UNICEF Report Police kill 2 suspected bandits, rescue 2 kidnapped persons in Katsina Evacuation: 175 stranded Nigerians arrive Abuja from Uganda Minister inaugurates ultra modern Senate Building in BUK Folarin Coker’s death, great loss to Lagos — Sanwo-Olu Navy, NEXIM Bank sign MoU towards opening up inland waterways for International Trade 818 million children worldwide risk contracting COVID-19 — UNICEF Don’t compromise, CAN president tells security agencies Nasarawa State Assembly to partner with Govt, NGOs to fight malnutrition in children Enugu Assembly passes Iwollo polytechnic amendment bill COVID-19: Leprosy mission distributes palliatives to hospital community in Sokoto NSCDC in Jigawa uncovers corpse of burnt baby at a waste disposal site Security: ALGON seeks improved living standards in rural communities Nasarawa Utd retires late Chineme Martins’ jersey