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Buhari approves partial exclusion of Ministry of Finance Incorporated from TSA

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The president also granted the request of the Board of MOFI to charge management and transaction fees.

on Tuesday in Abuja approved the partial exclusion of the Ministry of Finance Incorporated from the Treasury Single Account .

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. ‘‘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.

On the restructuring of MOFI, the president explained that it is a clear indication of the government’s commitment to harnessing and creating value from its assets and investments, adding that the federal government is now positioned to optimize its assets, make strategic investments, diversify the economy, generate more revenue, revive public enterprises, and increase transparency in the public sector.

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