The Federal Government has released $311 million recovered assets to the Nigeria Sovereign Investment Authority, NSIA, for three Presidential Infrastructure Development Fund (PIDF) Projects
The Managing Director of NSIA, Uche Orji made this disclosure at a virtual meeting with newsmen to discuss the 2019 audited financial statement of the agency
“The Federal Government has transmitted $311 million recovered asset to the NSIA. This was facilitated by the legal counsel of the NSIA.” he stated.
According to him, the money is domiciled in cash with the Central bank of Nigeria in a special account.
Mr Orji said the NSIA “hopes to start using the money in the third quarter of 2020 on some critical infrastructure projects like the Second Niger Bridge, Lagos Ibadan Expressway and Abuja-Kaduna-Kano Expressway.”