Capital market services firm Investment One Financial Services Limited bought the Nigeria International Growth Fund (NIGFUND) from Fidelity Bank. No financial details about the transaction were disclosed. The Central Bank of Nigeria had directed all banks in the country to dispose of all their non-core financial services. Fidelity Bank complied with the central bank's directive through the sale of NIGFUND. A balanced mutual fund, NIGFUND was established in 2002.

Shareholders of Investment One approved the purchase in their 9^th Annual General Meeting. The Securities and Exchange Commission also ratified the acquisition.

Investment One's Head of Corporate Services Abimbola Afolabi-Ajayi told reporters that the purchase would fulfill the firm's objective of becoming a provider of complete investment services. It would also enable them to give customers insightful as well as innovative solutions.

Afolabi-Ajayi said Investment One would bring its experienced team to NIGFUND. She said the company would also be committed to ensuring capital appreciation for the long term and distributing regular dividends to its unit holders.Investment One has balanced investments in equities, real estate and fixed income securities said Afolabi-Ajayi.