Wale Edun Inaugurates Ministry Of Finance Board Of Directors
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has inaugurated the Board of Directors of the Ministry of Finance Incorporated (MOFI).
It could be recalled that President Bola Ahmed Tinubumonth.
In a statement issued on Friday, Stephen Kilebi, Director (Press & Public Relations), said that while inaugurating the board members in his office on Friday in Abuja, Edun said that with the inauguration of the Board of Directors of MOFI, a high-performance culture, reputation, integrity, as well as productivity, were expected from members to enable them to deliver on their mandate.
According to Edun, MOFI was set out to become a national and world-class organisation among other holders of sovereign assets that should uphold transparency, and accountability in the management of governmentthat the board members were carefully selected to develop MOFI in line with world-class standards.
Edun said, “Their mandate as holders and husbandry of Nigerian assets is to optimise those assets and do the best they can firstly to enumerate those assets so that we are sure of what Nigeria owns, physical and other assets that have been built up over time, and also to maximise returns on those assets.
“These are what the country ownsexport revenue, oil revenue, and other government revenues. These assets can also earn returns on investments to add to the budget and foreign exchange reserves under the care of the Ministry
While responding to a question on how to meet the £100 trillion target in the nation’s economy, Edun explained that the figure should be interrogated with rigorous and robust analysis to ascertain the evaluation of
He added that the figures are even more significant than the current estimate, not to talkthe fact that the country should comfortably reach £100 trillion in
The Minister highlighted the priority areas of MOFIdiversifying MOFI’s investments across different industries, sectors, and asset classes as well as making the company more resilient, leveraging technology, artificial intelligence, improving portfolio monitoring, risk management, transparency, diligent oversight to maximise returns on investments.
While congratulating the newly inaugurated Board members of MOFI, Edun noted that there was a need to collaborate and cooperate with other National and World Fundfunction more effectively, adding that he was confident in their ability to deliver.
Earlier, the Chairman of the inaugurated Board, Dr. ShamsudeenPresident Bola Ahmed Tinubu and Wale Edun for the opportunity given to them to serve, noting that they the huge expectations about MOFI.
He pledged that they would do their verynot just for the current administration but for the country as a whole.
Dr. Usman said, “We will do our work with the greatest level of transparency, firstly the enumeration and maximisation of value because we are expected to actually extract as much value from those assets as possible for Nigerians, issues of diversification and leveraging technology, diligent oversightproductivity.
“We will set up the highest level of corporate governance so that we become an example to other companies we
Usmanmaking significant contributions to the board.
The Board of Directors of Ministry of Finance Incorporated comprised the Chairman, Dr Shamsudeen Usman, MD/CEO, Dr. Armstrong Takang, and eight other members: Tajudeen Datti Ahmed, Mr. Femi Ogunseinde, Mrs. Oluwakemi Owonubi, Hajia Fatima Nana Mede, Mr Ike Chioke, Ms. Chantelle Abdul, Mr. Alheri Nyako, and Mr Bolaji Rafiu-Elelu.