President Muhammadu Buhari, yesterday approved the partial exclusion of the Ministry of Finance Incorporated (MOFI) from the Treasury Single Account (TSA).
The President, who conveyed the approval at the first Governing Council meeting of MOFI, recalled that the new MOFI was launched on February 1, this year to transform it from a registry of investment records to a world-class asset and investment management company.
As a government-owned investment company, the President stressed that MOFI must be supported to exercise its responsibility of achieving strong returns on investments, while also contributing to broader economic development of the country.
He commended the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Chairman, Board of MOFI, Shamsuddeen Usman, and the entire executive team of MOFI for the job well done, three months after inauguration.
”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 that span across multiple sectors, MOFI has the potential to shape industries, spur innovation, and support economic growth.” Source; The Nation
