BusinessBuhari Approves MOFI Board Members, Management Team

Buhari Approves MOFI Board Members, Management Team


January 20, (THEWILL) – President Muhammadu Buhari has approved the appointment of the inaugural members of the board and executive management team of the new Ministry of Finance Incorporated (MOFI).

The Ministry of Finance Incorporated was instituted, pursuant to sections 2 and 3 of MOFI Act 1959, as a corporation vested with the responsibility to manage all federal government investments, interests, estates, easement and rights.

A statement by the Special Adviser on Media and Communications to the Minister of Finance, Budget and National Planning, Yunusa Tanko Abdullahi, said the board of directors are to provide strategic direction and oversight, while the executive management team is to drive the day-to-day operations of the business and will be supported by the middle management team.


The statement named Dr Shamsudeen Usman, as Chairman of the part-time board members.

The non-executive directors are permanent secretaries, finance and petroleum; Accountant-General of the Federation, and Representative of the Central Bank of Nigeria (CBN).

Others members are Olawale Edun, Hajiya Fatima Mede, Ike Chioke, Muhammad Nda, and Barrister Alheri Bulus Nyako.

President Buhari also approved the Executive Management to include Dr Armstrong Katang as CEO; Eric Ojo, Executive Director, Portfolio; Sani Yakubu, Executive Director, Investment; and Oluwafemi Owonubi, Executive Director, Risk.

The statement said all the members were identified with key competencies to drive the achievement of MOFI’s governance and management objectives.

President Buhari will inaugurate the Governing Council on a later date, the statement added.

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