President Muhammadu Buhari on Tuesday, in Abuja, approved the partial exclusion of the Ministry of Finance Incorporated from the Treasury Single Account.
Buhari also granted the request of the Board of MOFI to charge management and transaction fees; and the inclusion of the Minister of Power in the Governing Council.
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President, who conveyed the approval at the 1st Governing Council meeting of MOFI, recalled that the new MOFI was launched on February 1, 2023 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.