President Muhammadu Buhari, yesterday, approved the partial exclusion of the Ministry of Finance Incorporated (MOFI) from the Treasury Single Account (TSA).
A statement by his Media and Publicity aide, Femi Adesina, said the President gave the approval at the 1st Governing Council meeting of MOFI held in Abuja.
He also granted a request by the Board of MOFI for the inclusion of the Minister of Power in the Governing Council.
He recalled that the MOFI was launched on February 1st to transform it into a world-class asset and investment management company.
The President advocated support for MOFI to achieve its goal of achieving strong return on investments while contributing to the country’s broader economic development as a government-owned investment company.
He commended the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Chairman of the MOFI Board, Shamsuddeen Usman, and the entire executive team for doing a great job in the last three months.
Buhari said: “MOFI’s mission is to generate strong risk-adjusted returns, contribute to the well-being of Nigerians, and be a trusted steward of our nation’s assets and investments.
“With a vast portfolio and strategic investments spanning multiple sectors, MOFI has the potential to shape industries, spur innovation, and support economic growth.
“I am glad to note, from the Board and management update, the crucial activities and positive engagements by MOFI in just three months after inauguration.”
With a vast portfolio and strategic investments spanning multiple sectors, MOFI has the potential to shape industries, spur innovation, and support economic growth.
