Nunasi Corporation, a 100 per cent Inuit-owned business development firm, is closing its corporate division in Yellowknife and moving to Ottawa.

The chief financial officer is packing up her office to join her legal colleague in Ottawa, and the remaining staff will be part of Nunasi Financial Services Ltd., a new subsidiary of Nunasi.

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Nunasi Corporation, a 100 per cent Inuit-owned business development firm, is closing its corporate division in Yellowknife and moving to Ottawa. (CBC)

Nunasi Financial Services will provide bookkeeping and payroll services as well as operate a conference centre.

Nunasi Corporation's head office will remain in Iqaluit.

Nunasi chairperson Okalik Eegeesiak said in a news release that by moving the corporate division to Ottawa, Nunasi will be closer to its partners — other Inuit organizations and the federal government.

The timing is good for Nunasi, said deputy chair Wilf Wilcox.

"It’s been discussed heavily at our board level and looked upon very favourably because we're now centering Nunasi's activities in Nunavut," he said. "I think that's been a long-held dream."

It’s no secret that some of the corporation's businesses have faced hard financial times recently. 

Frobuild Ltd is slated to close this fall in Iqaluit and Canadian North is moving its Yellowknife-based finance department to Alberta.

The Nunasi corporate office in Yellowknife will close in August and Nunasi Financial Services Ltd will open in September.