Funskool make G.I. Joe figures for various markets. The Russian figures were released on Funskool cards but with Russian language on the filecards. In Egypt, though, Funskool manufactured the figures and sold them under the Nilco brand.
The Nilco figures seem to have been an early Funskool endeavor, likely in the early 1990's. The figures are all early Funskool releases and were manufactured in India. They were sold in Egypt. Though, I've heard reports they were available in South Africa, too. But, I have never confirmed that. The variants don't appear to be any different from what you see on Funskool packaging. Though, there are some parts combos that appear on Nilco figures. In those cases, though, it's just likely we haven't found the corresponding Funskool production run to match up on the parts.
Nilco Joes occupied a vaulted place among foreign collectibles in the early days of online collecting. Slowly, though, they fell out of favor. Mostly, this was due to the fact that the Funskool versions of the figures were desirable enough that no one really went out of their way to seek out Nilco versions instead of the Funskool. Through the 2000's, everything Funskool went through a bit of doldrums as the brand was considered low quality and common. As we went into the 2010's, though, the rarer Funskool items started to get popular and pricey. Nilco followed suit. Collectors realized the rarity of the carded figures. Collecting them was still a niche part of the community. But, it was, and remains, a high dollar niche reserved for those with ample means to acquire pieces when they appear.
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