Buhari inaugurates Ministry of Finance Board, Council

• Published date: 01 February 2023
• Publication title: Nigeria - The Nation

President Muhammadu Buhari has inaugurated the Governing Council, Board of Directors and Executive Management Team of the Ministry of Finance Incorporated (MOFI).

Buhari performed the inauguration ceremony in the Council Chambers of the Presidential Villa, Abuja, just before the commencement of the week's Federal Executive Council (FEC) meeting.

MOFI is an investment vehicle as part of overall measures to revive and restructure non- performing assets and boost government revenue.

The President tasked the new Board, chaired by former Minister of Finance, Shamsudeen Usman, to raise the value of MOFI's portfolio from the current N18 trillion to N100 trillion by 2033.

He said the governing council is fully set up as a world class investment company with a new management and board, with core professionals with specialisation in portfolio management.

He said the new leadership will take steps to mobilise capital and invest same in assets that are critical to the Federal Government's revenue drive.

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This, he said, will involve turning the country's current assets into aggressive cash flow generating entities.

According to Buhari, the inauguration of Governing Council...