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

The President also granted request of the Board of MOFI to charge management and transaction fees; and the inclusion of the Minister of Power in the Governing Council.

The President, who conveyed the approval at the 1st Governing Council meeting of MOFI, 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.

President Buhari, therefore, charged staff and management team of the investment company to continue to work closely with other government agencies, the private sector, Development Finance Institutions (DFIs), and other stakeholders.