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FG to Enforce Governance Standards as MOFI Introduces Excellence Awards for Public Enterprises

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FG to Enforce Governance Standards as MOFI Introduces Excellence Awards for Public Enterprises

By: Michael Mike

The Federal Government is set to tighten oversight and raise performance standards across its portfolio of state-owned enterprises with the launch of the MOFI Excellence Awards, a new accountability-driven initiative scheduled for the second quarter of 2026.

The awards, to be introduced by the Ministry of Finance Incorporated (MOFI), are aimed at institutionalising transparency, discipline and measurable performance in Federal Government-owned enterprises, marking a shift from discretionary oversight to structured, benchmarked governance.

MOFI said the initiative is part of broader reforms aligned with President Bola Ahmed Tinubu’s economic agenda, which seeks to improve fiscal discipline, unlock value from public assets and reduce the burden of inefficient enterprises on the national treasury.

At the core of the process is the MOFI Corporate Governance Scorecard, launched in April 2025, which now serves as a standardised tool for assessing Boards and management teams against international best practices in transparency, risk management and compliance.

An independent technical panel, inaugurated in December 2025 by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, will conduct the assessments. Portfolio companies will be evaluated using strict criteria, including regulatory compliance, Board effectiveness, financial controls and sectoral impact.

According to MOFI, the awards are not intended as ceremonial recognition but as a mechanism to drive behavioural change across public enterprises by linking governance quality to reputational standing and future oversight.

“The MOFI Excellence Awards represent a structural reset in the way public enterprises are managed,” the Ministry said in a statement. “Transparency is no longer optional, compliance is measurable, and performance outcomes are central to fiscal responsibility.”

Institutions that emerge as top performers will be recognised for demonstrating strong governance culture, operational discipline and accountability, while underperforming entities are expected to face closer scrutiny and corrective interventions.

MOFI said the initiative will also provide policymakers with clearer data on enterprise performance, enabling more informed decisions on restructuring, capital allocation and potential private-sector participation.

Analysts say the move could signal a turning point in public enterprise management, particularly if the scorecard and awards framework is consistently applied and tied to consequences.

Further details on the awards and governance framework are available on MOFI’s official website, www.mofi.com.ng.

FG to Enforce Governance Standards as MOFI Introduces Excellence Awards for Public Enterprises

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Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

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Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

By: Zagazola Makama

Troops of Operation FANSAN YANMA have reportedly engaged armed bandits in a heavy gun battle during a clearance operation at Yankuzo area in Tsafe Local Government Area of Zamfara state.

Security sources said the operation followed aggressive fighting patrol on armed groups into the area, believed to be a stronghold used by suspected bandit elements operating within the axis.

According to the sources, troops advanced into deep into the terrorists enclave of Ado Allero in the early hours of the day and made contact with the armed men, leading to an exchange of fire that lasted for several minutes.

Residents reported heavy gunfire during the confrontation.

Although details of casualties were still being assessed at the time of filing this report, security sources confirmed that troops maintained dominance of the general area and continued pursuit of fleeing armed elements.

Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara

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Troops rescue three kidnapped victims during operation in Niger State

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Troops rescue three kidnapped victims during operation in Niger State

By: Zagazola Makama

Troops of Operation FANSAN YAMMA have rescued three kidnapped victims during a swift response to a distress call in Kusheri village area of Niger state.

Security sources told Zagazola Makama that the incident occurred on April 21, 2026, when armed bandits invaded the community and abducted three civilians identified as Abdullahi, Saidu Julfe and Kamilu Joddi.

According to the sources, troops deployed at Forward Operating Base Dokan Karji immediately mobilised after receiving the distress alert and advanced towards the area of operation.

On arrival, the troops discovered that the attackers had already fled the scene with the abducted victims towards the Kafin Gora axis.

The troops subsequently launched a pursuit operation, engaging the fleeing suspects in intermittent contact before successfully rescuing all three hostages unharmed.

The rescued victims were later handed over for medical evaluation and debriefing, while troops withdrew to base after securing the general area.

Security sources confirmed that the situation within the area of responsibility remains calm but unpredictable, adding that patrols and surveillance operations have been intensified to prevent further incidents.

They further noted that troop morale and combat effectiveness remain high as operations continue across vulnerable communities within the state.

Troops rescue three kidnapped victims during operation in Niger State

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Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

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Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

By: Zagazola Makama

Troops of Operation Hadin Kai have killed a suspected Boko Haram insurgent during a confrontation in Lotori-Garbiya village, Tarmuwa Local Government Area of Yobe state.

Sources said the incident occurred on April 20 at about 7:00 p.m. after gunmen suspected to be Boko Haram elements stormed the community and imposed illegal levies on residents.

According to the sources, security forces were swiftly mobilised following a distress call and engaged the attackers in a gun battle.

One of the suspected insurgents was killed during the encounter, while others reportedly fled into surrounding bushes.

The sources said an AK-47 rifle and two Kasea motorcycles were recovered at the scene.

Security authorities confirmed that the area had been placed under close surveillance, while patrols were intensified to prevent further attacks.

They added that efforts were ongoing to track down fleeing members of the group.

Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles

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