The President, Major General Muhammadu Buhari (retd. ), approved the partial exclusion of the Ministry of Finance Incorporated from the Treasury Single Account on Tuesday in Abuja.
Buhari also authorized the Board of MOFI’s proposal to collect administration and transaction fees, as well as the inclusion of the Minister of Power on the Governing Council.
The president, who announced the decision during MOFI’s first Governing Council meeting, recalled that the new MOFI was inaugurated on February 1, 2023, to transform it from a register of investment records to a world-class asset and investment management organization.
As a government-owned investment company, the president emphasized that MOFI must be supported to fulfill its responsibility of achieving high returns on investments while also contributing to the country’s overall economic development.
