FG yet to leverage tens of trillion assets in MOFI— Edun

The Federal Government has not leveraged the tens of trillion assets in the Ministry of Finance Incorporated (MOFI), Nigeria’s investment vehicle.

Wale Edun, minister of finance and coordinating minister of economy disclosed this on Tuesday at the unveiling of the Nigerian banking sector report, by Afrinvest West Africa, in Lagos.

Represented by Armstrong Takang, managing director/CEO of MOFI, he said, “MOFI has assets that are worth 10s of trillions of naira. Unfortunately, we have not leveraged most of those assets over time.

“A lot of those assets really represent our own equity. We have not used that equity to leverage debt and other types of capital flows. We’re beginning to use some of that.

“We believe that those assets represent significant opportunities for us to be able to unlock liquidity by putting some of those upfront and in most cases the cost of that liquidity is a lot cheaper when you use assets you want at the moment rather than unsecured debt for using sovereign debts,” he said.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.