This follows the improved rating of the
In the official statement announcing the second quarter 2014 ratings, the Institute singled out the NSIA for special mention stating that the
This rating translates into a leap from a position of joint 33rd to joint 2nd; the only African sovereign wealth fund so ranked. With the latest rankings, NSIA is in credible company alongside sovereign wealth funds from the
More significantly, the improved transparency ranking validates NSIA's commitment and adherence to the highest prescriptions of the Santiago Principles with respect to corporate governance, investment strategy, disclosures and SWF best practices.
The NSIA believes that the capacity to deliver on its statutory mandate, for the benefits of all Nigerians, depends on these values hence the unwavering commitment to best practice standards in all policies, procedures and systems.
The Linaburg-Maduell Transparency Index was developed at the
In arriving at the rankings, the index amongst others considers the following principles - Fund provides history including reason for creation, origins of wealth, and government ownership structure, Fund provides up-to-date independently audited annual reports, Fund provides ownership percentage of company holdings, Fund provides total portfolio market value, returns, and management compensation, Fund provides guidelines in reference to ethical standards, investment policies, and enforcer of guidelines, Fund provides clear strategies and objectives if applicable, the Fund clearly identifies subsidiaries.
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