The House of Representatives has expressed its commitment to supporting the Ministry of Finance Incorporated (MOFI) in its efforts to recover national assets and investments. This pledge was made during a recent meeting where MOFI outlined its goals to maximize the value of Nigeria’s assets, enhance transparency, and ensure sustainable revenue streams from investments.
MOFI, which operates under the Ministry of Finance, is tasked with managing and optimizing government-owned assets, including properties, shares, and other financial investments. The agency’s efforts focus on identifying, securing, and restoring valuable assets that may have been underutilized or mismanaged over the years. By recovering and optimizing these resources, MOFI aims to generate more revenue for Nigeria, reduce reliance on borrowing, and strengthen the nation’s economic stability.
During the session, members of the House of Representatives acknowledged the importance of MOFI’s mission and expressed their willingness to provide legislative backing to support the agency’s recovery efforts. Lawmakers pledged to collaborate with MOFI in implementing policies that will facilitate the recovery and effective management of national assets, while also promoting transparency and accountability in the process.
The support from the House is expected to enhance MOFI’s capacity to address challenges related to asset recovery, including legal hurdles, administrative barriers, and issues of accountability within government agencies. Members of the House also emphasized the importance of protecting public assets from misappropriation and stressed the need for robust monitoring mechanisms to ensure that recovered assets contribute to Nigeria’s financial stability.
MOFI’s CEO expressed appreciation for the lawmakers’ support, noting that a collaborative effort between MOFI and the House of Representatives is crucial for achieving the agency’s ambitious targets. He outlined MOFI’s strategies to strengthen due diligence, improve asset management practices, and engage private sector expertise to ensure the long-term value of Nigeria’s investments.
With this support from the House of Representatives, MOFI is expected to intensify its focus on asset recovery and optimization in the coming months. Lawmakers also pledged to work on relevant legislation to remove legal bottlenecks, ensuring that MOFI can operate efficiently and effectively as it works to maximize the nation’s economic potential.
This cooperation represents a significant step toward building a more sustainable financial future for Nigeria, with greater accountability and improved returns on national investments.
