Buhari Removes Finance Ministry From TSA

By: The New Diplomat
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…Includes Minister of Power on governing council

By Charles Adingupu

With just few weeks to the end of his administration, President, Muhammadu Buhari is still engaging in last minute reshuffle of his cabinet members as he announced on Tuesday, in Abuja, the approval of the partial exclusion of the Ministry of Finance Incorporated from the Treasury Single Account (TSA).

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

Buhari, who announced the approval at the 1st Governing Council meeting of MOFI, recalled that the new MOFI was launched 1st February, 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.

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