Nigeria second worst in the world in use of sovereign wealth fund – IMF

The International Monetary Fund has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds.

According to the Fiscal Monitor report released on Wednesday, Qatar was the only country worse than Nigeria on the index.

The Bretton Wood institution said the index was compiled using the corporate governance and transparency scores of the sovereign wealth funds and the size of assets as a percentage of 2016 GDP of the countries considered.

More to follow…