President Muhammadu Buhari, on Thursday, January 19, approved the appointment of the inaugural members of the board and the executive management team of the new Ministry of Finance Incorporated (MOFI).
The newly approved team will kickstart the execution of the crucial mandate of MOFI, an investment arm of the federal government with about 130 corporate entities.
This development was confirmed in a statement signed by Yunusa Abdullah, the special adviser on media and communications to finance minister, Zainab Ahmed.
Abdullah said that the board of directors will provide strategic direction and oversight, Premium Times reports.
He further noted that the executive management team will drive effective day-to-day operations of the business and will be supported by the middle management team.
The constituted part-time board members include Shamsudeen Usman as chairman, non-executive directors, Accountant-General of the Federation (AGF), and representative of the Central Bank of Nigeria (CBN).
Others are Olawale Edun, Fatima Mede, Ike Chioke, Muhammad Nda, and Alheri Nyako.
Buhari also approved MOFI’s executive management team.
The team includes Armstrong Katang as CEO, Eric Ojo as executive director, portfolio department, Sani Yakubu, executive director, investment unit, and Oluwafemi Owonubi, executive director, risk.
The statement partly reads, “All the above persons were identified with key competencies to drive the achievement of MOFI’s governance and management objectives.
“The governing council of MOFI will be inaugurated by Mr. President on a later date.”
“MOFI, pursuant to sections 2 and 3 of MOFI Act 1959, is a corporation sole vested with the responsibility to manage all federal government investments, interests, estates, easements and rights.”
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