MOFI: Some assets owned by federal government are unknown, dead | TheCable
says some assets owned by the federal government are unknown, while others are “dead and gone”.
President Muhammadu Buhari had, on Wednesday, inaugurated the new the governing council, board of directors and executive management team of MOFI. “I’ve seen the list. For example, some of the quoted companies in which the government owns shares, are dead already, dead and gone. But it is in the register that government is still owning some of those shares, but the companies are no more.
“Some of them, we took loans to set them up. They are supposed to be commercial ventures that are supposed to actually generate the repayment of those loans. Now, in some cases, the government has paid the loans. And those institutions are still being baby nursed by the government.“I don’t want to give any specific example. I don’t want to embarrass some of the MDs of those companies.
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