According to a statement by the Federal Ministry of Finance, last night, the Chairman, also a former Deputy Governor of the Central Bank of Nigeria (CBN), would function on a part-time basis.

President Muhammadu Buhari

Former Minister of Finance, Dr. Shamsuddeen Usman has been appointed as the new  Ministry of Finance Incorporated (MOFI) by President Muhammadu Buhari.

According to a statement by the Federal Ministry of Finance,  last night, the Chairman, also a former Deputy Governor of the Central Bank of Nigeria (CBN), would function on a part-time basis.

Others appointed into the board were: Mr. Olawale Edun, Hajiya Fatima Mede, Ike Chioke, Muhammad Nda ; and Barrister Alheri Bulus Nyako.

Institutional non-executive members of the board included: Permanent Secretaries of the Ministries of Finance and Petroleum,  Accountant-General of the Federation, and  representative of Central Bank of Nigeria (CBN).

Mr President also appointed Dr. Armstrong Katang as CEO, Eric Ojo, Executive Director, Portfolio, Sani Yakubu, Executive Director, Investment, and Oluwakemi Owonubi, Executive Director, Risk.

The statement signed by Mr. Tanko Abdullahi, Special Adviser, Media & Communications, to the Minister of Finance,  Budget and National Planning, indicated that all the above persons were identified with key competencies to drive the achievement of MOFI’s governance and management objectives.

It added that the board of directors would provide strategic direction and oversight while the executive management team would  drive effective day-to-day operations of the business and to be supported by the middle management team.

The Governing Council of MOFI is to be inaugurated by Mr. President on a later date.

MOFI is a corporation vested with the responsibility to manage all federal government investments, interests, estates, easement and rights.