FG Inaugurates Committee On Creation Of Nigerian Diaspora Investment Trust Fund

The federal government has announced inauguration of ad-hoc committee on the establishment of the Nigerian diaspora investment trust fund.

The Minister of State, Ministry of Foreign Affairs Ambassador Zubairu Dada inaugurated the 14- Member Adhoc Committee in Abuja on Wednesday.

The development is contained in a statement  issued  by Gabriel Odu, Media, Public Relations and Protocol Unit of Nigeria in diaspora commission (NIDCOM)

According to the minister, the committee is, among other things, expected to advise the ministry and NIDCOM on plans and modalities of how the funds will be set up and judiciously used which include, the mission and objectives of the fund, the structure of the fund(especially a private sector led and driven by the Nigerians in Diaspora, the sources and value of the fund, the processes for and procedure for its establishment, the procedure and guidelines for accessing the fund and its utilisation, the fund Managers/Management, any other issues pertinent to the realization and establishment of the fund.

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The minister said the Adhoc Committee has One Month to complete its task.

For her part, the Chairman/CEO NIDCOM, Hon Abike Dabiri-Erewa expressed delight that the Adhoc Committee is being established.

The committee, which is first of its kind in Nigeria, is an offshoot of the first Nigerian Diaspora Investment Summit held in 2018.

The NIDCOM Boss urged the Committee to carry out its functions by Virtual means given the circumstances of COVID-19 Pandemic.

The 14- Member Adhoc Committee has Chairman Dr Ali Garba of Financial Investment Services Winconsin USA while Professor Manny A. Aniebonam, Global Invstor and Member, NIDAN(Nigerians in Diaspora Alumni Network).

Other Members include: Chief Bimbo Roberts Folayan, Ms Lola Visser Mabogunje, Barr Kachi Okezie, Mr Femi Odere, Dr Mrs Ngozi Ogbonna-Erondu, Amb Edward A Sarki, Mr Uche Orji, Mr. Mansur Nuhu Bamalli, Ms Gbemi Adesemowo, Hon Abdulrahman Terab, Mariam Madaki and Rep Ministry of Finance .

The Committee is to advise and make recommendations on the above terms of Reference.