Buhari revives Nigeria’s investment vehicle- Ministry of Finance Incorporated

President Muhammadu Buhari has relaunched  the Ministry of Finance Incorporated (MOFI), the federal government’s investment vehicle, as part of measures to revive and restructure non- performing assets and boost government’s revenue

At the event whuch preceded Wednesday’s Federal Executive Council meeting, President Muhammadu Buhari charged the governing council and board of directors to among other things prioritise government investments so as to derive the highest returns from the current estimated 18trillion Naira to 100 trillion Naira by 2033.

The investment agency according to the president who is the chairman of the governing council is fully set up as a world class investment company with a new management and board, with core professionals that specialise in portfolio management.

Other members of the council include the Ministers of Finance, Aviation, Trade and Investment ss well as Transportation. Others are the Minister of State for  Petroleum Resources , the Governor of the Central Bank of Nigeria and three experts appointed by the President- Professor Muhammad Sagagi, Dr Ayo Teriba and Professor Ken Ife.

Members of the Executive Management Team are: Dr Armstrong Takang (MD), Eric Solo (ED, Chief Portfolio Officer), Sani Yakubu (Chief Investment Officer), Oluwakemi Owonubi (Chief Risk Officer)

The Board members include: Former Finance Minister, Shamsudeen Umar (Chairman), Permanent Secretaries of the Ministries of Finance and Petroleum Resources, Acting Accountant-General of the Federation, Olawale Edun, Fatima Mede, Ike Chioke, Muhammad Nda, Alheri Nyako and an executive from the CBN.