Tinubu Appoints Board Of Directors For Ministry Of Finance Incorporated

President Bola Tinubu has approved the appointment of ten qualified Nigerians to serve on the Board of Directors of the Ministry of Finance Incorporated (MOFI).

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.

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Over the decades of its existence, MOFI, by virtue of the provisions of its enabling Act, has been 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.

Those appointed by President Tinubu to serve on the board are:

(1) Dr. Shamsudeen Usman — Board Chairman

(2) Dr. Armstrong Ume Takang — CEO/Managing Director

(3) Mr. Tajudeen Datti Ahmed — Executive Director, Portfolio Management

(4) Mr. Femi Ogunseinde — Executive Director, Investment Management

(5) Mrs. Oluwakemi Owonubi — Executive Director, Risk

(6) Mrs. Fatima Nana Mede — Non-Executive Director

(7) Mr. Ike Chioke — Non-Executive Director

(8) Ms. Chantelle Abdul — Non-Executive Director

(9) Mr. Alheri Nyako — Non-Executive Director

(10) Mr. Bolaji Rafiu Elelu — Non-Executive Director

The Special Adviser to the President on Media & Publicity, Chief Ajuri Ngelale in a statement on Friday said, 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.

He said, 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.

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