News
Inaugural MOFI Award to Promote Excellence in Corporate Governance- Takang
Inaugural MOFI Award to Promote Excellence in Corporate Governance- Takang
By: Michael Mike
The maiden edition of the MOFI Excellence Awards to promote excellence in corporate governance and performance across Federal Government-owned and Linked Enterprises is scheduled for 2026.
The Managing Director of the Ministry of Finance Incorporated (MOFI), Dr Amstrong Takang, who announced this at the formal unveiling in Abuja on Wednesday, said the awards would deepen the culture of good corporate governance, transparency, and accountability in the public sector of the nation’s economy.
Takang said the awards initiative, which follows the MOFI Corporate Governance Scorecard launched early this year as a part of its ongoing reform agenda, would recognise outstanding performance as well as redefine governance as a strategic asset driving transparency, accountability, and long-term value creation in government-owned entities.
He noted that MOFI Corporate Governance Scorecard revolves around key pillars that reflect global best practices adapted to Nigeria’s context, including effectiveness and independence of boards; robust control and risk management environment; strategic alignment and performance management; quality and timeliness of financial reporting and disclosure; and emerging issues of environmental, social and governance (ESG) as well as innovation, stakeholder engagement and sustainability.
He stated that MOFI believes that no strong economy would emerge without strong institutions, adding that strengthening the backbone of public institutions, by incentivising them to adopt best practices, would strengthen the entire nation’s economic outlook.
He disclosed that in the run-up to the awards next year, the process would involve the submission of documentation and data by portfolio companies required for their performance scorecard assessments and review of established criteria by an independent consultant and other experts.
He said once the technical review is completed, the consolidated findings through an evidence-based process would be presented to an Awards Panel tasked with the responsibility of providing independent oversight, by reviewing score distributions, and confirming entities that meet the threshold for recognition in each category.
Takang said: “What the Excellence Awards is building is the combination of a national Corporate Governance Scorecard for SOEs (state-owned enterprises) and an independently adjudicated excellence awards programme to serve as a model for other jurisdictions and as a reference point for investors and partners looking for credible signals of reform.”
To select the entities qualified for the awards, an independent panel, made up of individual experts and representatives of institutions renowned for promoting good governance, was inaugurated on Wednesday.
Members include representatives of the Financial Reporting Council, the Society for Corporate Governance Nigeria, the Chartered Institute of Directors, Nigeria Exchange Group and the Chartered Risk Management Institute.
Inaugurating the panel, the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, charged its members to make the awards a model of transparency and impact, to help deepen the culture of good corporate governance, transparency and accountability.
The integrity of the awards, the Minister pointed out, was dependent on the integrity of members of the panel responsible for judging and selecting prospective honourees.
He said MOFI Awards, which is open to all government-owned portfolios companies under MOFI management, would ultimately become the standard for corporate governance, transparency, accountability and integrity in the country over time.
“Your roles are pivotal in overseeing a transparent and rigorous process by ensuring the highest standard of institutional performance. We want to see that companies are not only run efficiently, but run according to the rule of law, sanctity of contracts, and regulations, and that they are timely with their financial reporting. There must be an open and independent process that must be merit-based,” he said.
He said the MOFI Excellence Awards was conceived to promote corporate governance excellence, high institutional performance, and strategic alignment across MOFI’s portfolio of public enterprises to spotlight on those boards and management teams that exemplify transparency, accountability, and strong performance.
He revealed the intention of the government would be to recognise agencies and their leaders who demonstrate high standards of transparency, accountability, and performance in managing public assets.
Edun said: “By doing so, we send a clear message that good governance and results will be rewarded, and that every entity under MOFI should strive towards the highest ideals of service and stewardship.”
He described the initiative as part of MOFI’s core mandate as the asset manager for the Federal Government charged with the responsibility of ensuring that government investments and state-owned enterprises were managed prudently and professionally.
In his response after the inauguration, the Chairman of the panel, who is also the Chairman/CEO of the J. K. Randle Group, a chartered audit, finance, tax, and accounting advisory firm, Bashorun J. K. Randle, expressed appreciation to the government for the confidence reposed in its members to serve.
Randle, who is also the former Chief Executive and Chairman of KPMG Nigeria and former Chairman of KPMG Africa, said the panel would do a good job to justify the confidence.
He said the composition of the panel with persons and entities with diverse perspectives and reputations for integrity would ensure that its evaluations would be independent, credible, and beyond reproach.
The MOFI Excellence Awards, the Chairman explained, would recognise and celebrate state-owned enterprises that demonstrate outstanding corporate governance, prudent risk management, sound ESG practices, and overall operational excellence.
He added that entities that have shown significant improvement over time, by incentivising everyone to attain those standards, while highlighting gaps and providing support to strengthen them, would also be recognised and rewarded.
“We want to send a clear message across the public sector that transparency, accountability and performance will be noticed and rewarded. We also want to foster a healthy sense of competition and peer learning among our portfolio companies,” he said.
In another development, the Managing Director and CEO of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, has dismissed the notion that the government should not be involved in the business of driving economic growth in the country.
He described this view as a fallacy, asserting that governments at all levels play a critical role in the development of any nation.
Takang highlighted that countries like China have proven that government intervention in the economy, alongside private sector participation, can lead to success. He emphasized that this is the kind of capitalism Nigeria should aim for.
He cited Singapore Airlines, which has been owned by a government agency similar to MOFI, as an example of a successful state-owned enterprise. The airline has remained a leader in global aviation for decades, showcasing the potential of government involvement in business.
“The government has a pivotal role to play because of its sovereign status and its ability to access resources that the private sector can’t,” Takang explained. “There are certain amounts of capital the government can mobilize where private companies simply don’t have access.”
He added that: “It’s a fallacy to suggest that only the private sector can grow businesses. At MOFI, we believe the government can leverage its sovereign status to drive business and create opportunities for the private sector, especially where they lack the necessary capital. The private sector still needs the government. And we believe state-owned enterprises have a significant role to play in the economy.”
Takang also discussed the MOFI Excellence Awards, which aim to foster a culture of governance, excellence, and performance in state-owned enterprises. The awards will serve as a tool to evaluate corporate governance, track contributions to GDP, job creation, and other economic sectors, and encourage these enterprises to prioritize impact and accountability.
“We want state-owned enterprises to perform at their best, and that’s why we introduced the MOFI Excellence Awards,” Takang said, adding. “The goal is to provide a framework for assessing these organizations and ensuring they contribute positively to the economy.”
He noted that some of MOFI’s portfolio businesses have already begun prioritizing dividend payments, signaling a shift toward better performance and accountability.
“By institutionalizing these awards, we are creating a culture of excellence in corporate governance,” he added.
Inaugural MOFI Award to Promote Excellence in Corporate Governance- Takang
News
Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse
Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse
By: Michael Mike
The Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (retd) has urged Nigerian youths to prioritise skills acquisition and empowerment opportunities as a strategic defence against drug abuse, unemployment and other social vices threatening national stability.
Marwa gave the charge in Abuja on Thursday while speaking as Special Guest of Honour at the launch of a youth empowerment and skills acquisition programme organised by Grassroots Bridge Builders, a non-governmental organisation.
He described the initiative as a critical intervention that supports the Federal Government’s Renewed Hope Agenda, particularly its focus on youth empowerment, job creation, social inclusion and crime prevention. According to him, equipping young Nigerians with practical and employable skills is a sustainable approach to addressing poverty, drug dependency and insecurity.
The NDLEA boss commended Grassroots Bridge Builders for its plan to train and empower 10,000 youths, noting that such efforts go beyond charity to serve as long-term investments in national development. He stressed that empowering young people strengthens their resilience, builds character and reduces their vulnerability to drug abuse and criminal activities.
Marwa emphasised that the fight against drug abuse cannot be left to government alone, calling for stronger collaboration among non-governmental organisations, civil society groups, faith-based institutions, community leaders and the private sector. He encouraged stakeholders to partner with the NDLEA in developing community-driven programmes that provide young people with skills, dignity and a sense of purpose.
Addressing the beneficiaries, Marwa described Nigerian youths as a vital asset to the country’s future rather than a burden to be managed. He urged them to take advantage of empowerment initiatives, reject drug use and invest in their talents to contribute meaningfully to national growth.
He reaffirmed NDLEA’s commitment to supporting credible, non-partisan initiatives that promote youth development, skills acquisition and drug-free communities, describing youth empowerment as the most sustainable pathway to securing Nigeria’s future.
Marwa Charges Nigerian Youths on Skills Acquisition, Warns Against Drug Abuse
News
NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection
NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection
By: Michael Mike
The Commandant General (CG) of the Nigeria Security and Civil Defence Corps (NSCDC), Prof. Ahmed Audi has issued a stern mandate to officers to uphold the highest standards of professionalism, integrity, and commitment in the protection of Very Important Persons (VIPs).
The CG gave this charge during his keynote address at a three-day VIP leadership and management workshop held at the NSCDC National Headquarters in Abuja on Wednesday.
The intensive training brought together state commandants, VIP commanders, and armorers from across the country.
Audi emphasized that the mandate for VIP protection as conferred by President Bola Tinubu is a sacred trust that must not be compromised. He warned that his administration maintains a zero tolerance policy for any form of misconduct.

He said: “This administration will sanction any personnel found sabotaging the Corps’ efforts in implementing the VIP mandate,” adding that: “This responsibility must be carried out to the admiration of the government and Nigerians to justify the confidence reposed in us.”
The workshop, organized under the Directorate of Training and Manpower Development, serves as a strategic intervention to sharpen the tactical and administrative skills of the Corps’ leadership.
Acting Deputy Commandant General Muktar Lawal, explained that the curriculum focuses on: strengthening leadership capacity and management skills.
Improving interdepartmental coordination.
Reinforcing professionalism in armory management and decision-making.
The CG underscored the importance of excellence by commending the VIP National Commander, Deputy Commandant of Corps Anyor Donald, for his professionalism and loyalty, urging others to embrace similar qualities.
The event featured goodwill messages from the Corps’ top brass, including Deputy Commandants General Zakari Ibrahim Ningi, fdc; Nnamdi Nwinyi; Pedro Awili Ideba; and Professor Tyoor Frederick Terhemba, all echoing the need for heightened accountability in the field.
NSCDC Boss Charges Personnel on Professionalism, Integrityin VIP Protection
News
VP Shettima Launches Vision 2050 Blueprint For South-East’s Economic Development
VP Shettima Launches Vision 2050 Blueprint For South-East’s Economic Development
Says new investment company, diaspora partnerships will drive infrastructure, industrial transformation
By: Our Reporter
Vice President Kashim Shettima has launched a 25-year development blueprint for the South-East region, saying the region is a central pillar of Nigeria’s economic future.
He also announced that President Bola Ahmed Tinubu has approved the establishment of the South East Investment Company Limited, designed to mobilise resources from the diaspora, capital markets, and development finance institutions for the region’s development.
Speaking on Wednesday during the South-East Vision 2050 Regional Stakeholders’ Forum in Enugu, the Vice President said the gathering was a decisive break from short-term governance cycles toward a structured, multi-decade development framework.
“This forum reflects foresight, responsibility, and a shared understanding that the future is not something we wait for, but something we must deliberately design.
“In recognition of the distinctive character of the South-East, its entrepreneurial spirit, its global diaspora, and its long-standing relationship with international capital, President Bola Ahmed Tinubu approved the establishment of the South East Investment Company Limited,” VP Shettima said.
He said the company will work in synergy with the South-East Development Commission (SEDC) to address postwar infrastructure gaps and drive long-term regional competitiveness.
Senator Shettima reaffirmed that the SEDC was conceived to focus on structural transformation rather than routine administrative activity, insisting that Nigeria is strongest when its regions thrive.
“Let me be clear. This is not another layer of bureaucracy. It is a delivery institution, focused on tangible outcomes that translate into jobs, productivity, and growth,” he stated, noting that the South-East carries a unique historical burden, which makes deliberate regional planning both urgent and necessary.
The VP praised the inclusive nature of the forum, which brought together federal and state governments, traditional institutions, the private sector, civil society, and development partners.
He also acknowledged the presence of Umu Igbo Unite, a United States–based network of over 10,000 young professionals, saying, “The future of the South-East will be built both at home and abroad, together.”
Addressing the youth directly, the Vice President insisted that development must produce concrete results.
“To the young people of the South-East and of Nigeria as a whole, let me speak plainly. You are not spectators in our national journey. You are central to it. Your energy, creativity, and ambition are essential to the Nigeria we are working to build. Development must not remain an abstract promise. It must be felt in the daily lives of our people.

Earlier, Governor Peter Mbah of Enugu State joined his colleagues in the region in endorsing the vision 2050, explaining that the vision is an opportunity for the South East region to tap into the national agenda tagged vision 2060.
He applauded the unity of purpose among leaders and stakeholders in the region and proposed the birthing of a South East common market, describing the moment as the awakening of an economic giant.
On reimagining the South East as an economic bloc, Governor Mbah said the focus on the unity and synergy of ideas and resources and the decision to change the thinking of leaders and the people about their development trajectory, must remain paramount.
He urged a paradigm shift in the planning and execution of projects across the region while calling on the people of the area to complement the renewed drive by the Federal Government to improve the security of lives and livelihoods as well as integrate all parts of the region’s plan for inclusive development.
He thanked the Vice President for his show of dedication and substance to the cause of the South East region, noting that his presence reinforced the principle that sustainable regional development does not thrive in isolation but on dedicated national leadership as exemplified by the presence of the Vice President.
In his remarks, Governor Francis Nwifuru of Ebonyi State, pledged the support of the state government for the implementation of a development plan for the region, noting that the plan will close unemployment and poverty gaps, while unlocking potentials across different sectors of the region’s economy.
He said Ebonyi State, under his administration, is building on the foundation of past administration in agriculture and agribusiness, education, solid mineral development, and a roadmap for the transformation of Ebonyi state as a hub of rural development in the South East.
In the same vein, Governor Alex Otti of Abia State, expressed happiness and satisfaction over the unanimous adoption and support for the South East Vision 2050 by critical stakeholders across the private and public sectors, saying the summit is connected to revolution of the region and its economic transformation.
Citing examples of transparent leadership in Abia State and abundance of solid minerals and other natural resources across the South East, Governor Otti said the task of economic transformation and industrialisation of the region was feasible and possible with committed and transparent execution of development agenda.
For his part, Governor Charles Soludo of Anambra State, thanked President Tinubu for the creation of the SEDC, describing it as a gift to the region that has been clamoured for by stakeholders for a long time.
He said the conversation around the SEDC Vision 2050 was historic, as it was the first time the governors and other leaders across the region were united in the adoption of a framework that will guide the transformation of the area.
In a keynote address, the Resident Representative of the UNDP, Mrs Elsie Attafuah, spoke on global lessons in long-term regional planning through institutional capacity for sustainable implementation of development plans in complex contexts.
She said for genuine industrialisation to be achieved, policymakers and stakeholders must ensure that infrastructure built across the region serve domestic production.
She urged cutting edge execution of Vision 2050 by stakeholders across the region and noted the importance of catalysing the comparative advantages of southeastern states in ensuring sustainability of the gains recorded in the years to come.
In his remarks, the Minister of Regional Development, Engr Abubakar Momoh, said the event was a crowning moment in the development of the South East region, especially in fostering a united and prosperous future.
He said the creation of the SEDC by the administration of President Tinubu reflects an institutional commitment to the coordinated and targeted transformation of the region through the revitalisation of critical infrastructure such as the rail sector and the commodity ecosystem, among others.
For her part, the Minister of Trade and Investment, Dr Jumoke Oduwole, underscored the significance of aligning resources and efforts, which she said had been prioritized through the South East Vision 2050 programme.
Dr Oduwole pledged the support of her ministry and announced the ministry’s launch of a nationwide trade facilitation tour to boost the export potentials across the country, describing the South East region as the springboard for Nigeria’s industrial transformation.
In a goodwill message, President of Ohanaeze Ndigbo World Wide, Sen. Azuta Mbata, commended the Federal Government for its efforts in prioritizing regional integration and development through the summit.
He said the integration of the South East in the broader national development agenda is key, and pledged the support of the people of the region for the aspirations of the vision 2050 and the Renewed Hope Agenda of administration of President Bola Ahmed Tinubu.
On his part, Chairman of the South East Development Commission, Sir Emeka Wogu, thanked President Tinubu for his commitment to the progress and development of the South East region and its people.
He said the South East vision 2050 is unique and designed to ensure continuity in the execution of development agenda for the region and the synergy of efforts by the respective state governments.
For his part, the Managing Director of the SEDC, Mr Mark Okoye, thanked President Tinubu for the creation of the commission as a special purpose vehicle to champion the economic transformation of the region.
He said the SEDC will seek the partnership of state governments, diaspora community and the organised private sector in implementing the 2050 vision aimed at charting a shared path to sustainable prosperity for South East Nigeria focusing on infrastructure, power, peace building and connectivity, among others.
There were also goodwill messages from representatives of corporate bodies, the Manufacturers Association of Nigeria (MAN), faith-based organisations, youth groups, diaspora community and development partners, among others.
The Vice President, accompanied by governors of the southeast region and other dignitaries, toured the exhibition gallery mounted by the Director-General, National Council for Arts and Culture.
VP Shettima Launches Vision 2050 Blueprint For South-East’s Economic Development
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News10 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
