President Tinubu has appointed the Chairman and Directors for the Ministry of Finance Incorporated.
Newsonline Nigeria reports that President Bola Tinubu has approved the appointment of a former Minister of Finance, Dr Shamsudeen Usman, and 9 other qualified Nigerians to serve on the Board of Directors of the Ministry of Finance Incorporated (MOFI).
This disclosure is contained in a press statement issued by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, on Friday, November 24, 2023.
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This Nigeria news platform understands that Ajuri in the statement listed the following as the newly appointed Chairman and members of the board of directors of the MOFI:
- Shamsudeen Usman — Board Chairman
- Armstrong Ume Takang — CEO/Managing Director
- Tajudeen Datti Ahmed — Executive Director, Portfolio Management
- Femi Ogunseinde — Executive Director, Investment Management
- Oluwakemi Owonubi — Executive Director, Risk
- Fatima Nana Mede — Non-Executive Director
- Ike Chioke — Non-Executive Director
- Chantelle Abdul — Non-Executive Director
- Alheri Nyako — Non-Executive Director
- Bolaji Rafiu Elelu — Non-Executive Director
The statement also stated that President Tinubu places a premium on accurate and purposeful performance assessment of both commercial and non-commercial government-owned enterprises, as well as on the consistent attainment of the highest returns possible on all investments made in trust of the Nigerian people.
As a result, the President expects nothing less than the highest level of results-driven performance from this highly experienced and qualified MOFI Board and Management team.
What you should know
- MOFI was incorporated under the provisions of Sections 2 and 3 of the Ministry of Finance Incorporated (MOFI) Act of 1959 as an asset holding company under the Federal Ministry of Finance.
- Its mandate as the sole manager of all federal government investment interests, estates, easement and rights, positions it as a strategic institution to support the Federal Government’s effort to address several economic challenges and spur a renewal of the economy.
- Over the decades of its existence, MOFI, by virtue of the provisions of its enabling Act, has been is in charge of the management of a significant portfolio of Federal Government investments, spanning a wide range of about 130 asset classifications, including Government Owned Entities (GOEs) and Government Linked Companies (GLCs), in which it controls a majority stake in more than half of them.
