February 1, 2023
President Muhammadu Buhari has officially launched the Ministry of finance incorporated (MOFI), which was originally set in 1959 through an act of parliament, as a custodian of Federal government’s investments in various Government linked companies and Government owned Enterprises.
Channels Television reports that, addressing the council, the President stated that the new leadership take steps to mobilise capital and invest same in assets that are critical to the Federal Government’s revenue drive, to primarily convert the nations current assets into cash flow generating entities.
According to the President who is Chairman of the Governing Council alongside the Minister of Finance, Budget and National Planning, Zainab Ahmed as Vice Chair, the inauguration of the council has become necessary to optimize returns on existing investments.
The President presided over the launch before the commencement of the council meeting.
