The House of Representatives Committee on Finance has expressed its full support for the Ministry of Finance Incorporated (MOFI) in strengthening its operations and recovering government assets and investments.
During a visit to MOFI’s headquarters in Abuja, committee chairman, Hon. James Faleke, praised the management, led by Dr. Armstrong Takang, for revitalizing the agency, which had been inactive since its establishment in 1959. Faleke acknowledged former President Muhammadu Buhari’s efforts to restructure MOFI and help it effectively manage the government’s assets. He assured the committee would continue to support MOFI’s development to make it more efficient.
Dr. Takang, MOFI’s managing director, explained that the agency had previously been inactive but was restructured by the Buhari administration to operate like a private entity, similar to the model used in Singapore. He outlined the changes, including a new governance structure, investment policies, and a focus on mobilizing investments in sectors like housing and technology.
The committee noted its first visit had been productive and they were optimistic about the agency’s future success.
