JUST IN: President Buhari excludes Finance Ministry from Treasury Single Account

President Muhammadu Buhari has approved the partial exclusion of the Ministry of Finance Incorporated (MOFI) from the Treasury Single Account.

POLITICS NIGERIA reports that the President also granted the request of the MOFI Board to charge management and transaction fees and to include the Minister of Power in the Governing Council.

The President conveyed this decision during the 1st Governing Council meeting of MOFI in Abuja on Tuesday.

The President highlighted that the MOFI was launched on February 1, 2023, to transform it from a mere registry of investment records to a world-class asset and investment management company.

As a government-owned investment company, Buhari emphasised the importance of supporting MOFI to carry out its responsibilities effectively, including achieving solid investment returns and contributing to the country’s economic development.

More details on this later…