Investment Authority records ₦36.15b comprehensive income

The Nigeria Sovereign Investment Authority (NSIA) recorded a Total Comprehensive Income (TCI) of N36.15 billion in 2019, Ms Stella Ojekwe-Onyejeli, said on Friday.

Ojekwe-Onyejeli, the Executive Director and Chief Risk Officer at NSIA disclosed this at a virtual news conference 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.

myfinancialintelligence.com