President Bola Tinubu has recently approved the appointment of ten qualified Nigerians to serve on the Board of Directors of the Ministry of Finance Incorporated (MOFI), a corporate body that manages the government’s investments and assets. This is a welcome development that shows the president’s commitment to improving the efficiency and accountability of the public sector.
The new board members are drawn from diverse backgrounds and have impressive credentials in the fields of economics, finance, banking, law, energy, and management. They bring a wealth of experience and expertise to the table, as well as a proven track record of delivering results in their respective domains.
The board chairman, Dr. Shamsudeen Usman, is a former finance minister and national planning minister, who has also served as the chairman of Citibank Nigeria Limited and the CEO of SUSMAN & Associates, a consulting firm. He is a respected economist and technocrat, who has contributed to the formulation and implementation of various policies and reforms in the country.
The CEO and managing director, Dr. Armstrong Ume Takang, is a seasoned public servant, who has held various positions in the federal ministry of finance, budget and national planning, as well as the budget office of the federation. He has also been involved in private sector initiatives, such as Growth Alliance Partners, a consulting and advisory firm, and Technology Support Center, a technology solutions provider.
The executive directors, Mr. Tajudeen Datti Ahmed, Mr. Femi Ogunseinde, and Mrs. Oluwakemi Owonubi, are responsible for portfolio management, investment management, and risk management, respectively. They have extensive experience in the areas of marketing, finance, research, corporate finance, and risk management, working for reputable organizations such as NHIS, HAISA Nigeria, Vision Valley, Africa Midstream, SLB Lagos State, Oando, Vetiva Capital, and Rand Merchant Bank.
The non-executive directors, Mrs. Fatima Nana Mede, Mr. Ike Chioke, Ms. Chantelle Abdul, Mr. Alheri Nyako, and Mr. Bolaji Rafiu Elelu, are independent directors who will provide oversight and guidance to the board and the management. They have distinguished themselves in various sectors, such as oil and gas, judicial, banking, payment, consulting, legal, and real estate. They have also served on the boards of notable companies and institutions, such as Oando, Nigerian Judicial Council, Hope Payment Service Bank, Le Finesse, Mojec International, Afrinvest West Africa, Morgan Stanley, and Suis Properties.
The new board of MOFI is expected to enhance the performance and governance of the ministry’s investments and assets, which include the Nigerian Sovereign Investment Authority, the Nigerian National Petroleum Corporation, the Nigerian Export-Import Bank, the Nigerian Communications Satellite Limited, and the Nigerian Postal Service, among others. The board will also advise the minister of finance on strategic matters relating to the ministry’s functions and responsibilities.
The appointment of these eminent Nigerians is a clear indication of President Tinubu’s vision and leadership, as well as his recognition of the importance of having a competent and credible team to manage the nation’s finances and resources. The president has demonstrated his confidence and trust in the new board members, and has given them a mandate to deliver on the expectations of the Nigerian people.
We congratulate the new board members on their well-deserved appointments, and we urge them to discharge their duties with diligence, integrity, and patriotism. We also commend President Tinubu for his bold and progressive decision, and we hope that he will continue to make more appointments that reflect the diversity, merit, and excellence of the Nigerian populace.