Nigerian President Muhammadu Buhari, gave his approval for the Ministry of Finance Incorporated (MOFI) to be partially exempted from the Treasury Single Account on Tuesday in Abuja.
Additionally, the president granted the request of the MOFI board to levy management and transaction fees and to include the Minister of Power in the Governing Council.
The president conveyed his approval during the first Governing Council meeting of MOFI, emphasizing that MOFI’s transformation from a registry of investment records to a world-class asset and investment management company must be supported to fulfill its responsibility of achieving strong returns on investments while contributing to the country’s broader economic development as a government-owned investment company.
