MOFI, BPE signal MoU on FG asset administration

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The Ministry of Finance Incorporated and the Bureau of Public Enterprises, have signed a Memorandum of Understanding, in a transfer to reinforce asset administration and appeal to investments for the federal authorities.

The partnership, aimed toward optimizing authorities property, was formalized on the Presidential Villa in Abuja on Tuesday, overseen by Senator Ibrahim Hadejia, the Deputy Chief of Staff to the President (Office of the Vice President).

Senior Special Assistant to The President on Media & Communications, Office of The Vice President, Stanley Nkwocha, in a State House press launch, mentioned the collaboration comes as a part of the Presidential Enabling Business Environment reforms, which goals to streamline authorities operations.

The MoU between the MOFI and the BPE seeks to determine a transparent framework for cooperation, making certain the efficient supply of their respective mandates.

Speaking on the occasion, Senator Hadejia highlighted the need of the partnership, citing current reforms in MOFI that led to overlaps with BPE’s tasks.

“We are here today for the joint signing of a ? Memorandum of Understanding between MOFI and the BPE. This is a result of the federal government’s reform of MOFI, which redefined some of its roles and created new mandates. We identified some overlaps between the new MOFI mandate and what the BPE is doing”, he mentioned.

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Speaking earlier, the Managing Director/Chief Executive Officer of MOFI, Dr. Amstrong Takang, emphasised the significance of delineating tasks between the 2 entities for environment friendly service supply.

“The reform of MOFI had led to the need to clearly define the relationship between both government’s entities for more effective delivery”.

“This will ensure a more effective delivery of our respective mandates, especially at a time like this when the government needs all the resources to deliver on good governance and optimize its assets. We are very excited about the new phase in our relationship,” he added.

Acting Director General of the BPE, Ignatius Ayewoh, expressed optimism concerning the collaboration, mentioning its function in fostering an investment-friendly atmosphere in Nigeria.

He additionally famous the importance of authorized and regulatory certainty for buyers, affirming the dedication of each companies to upholding transparency and effectivity.

“This event signifies that Nigeria is an investment-friendly clime. The BPE recognizes deeply that investors want where there is a legal and regulatory relationship between the agencies of government. We are excited to move ahead, and together we will make sure that is not undermined in international business relationships”, Ayewoh mentioned.



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