Dr. Shamsudeen Usman, Chairman, Ministry of Finance Incorporated, MOFI
President Bola Ahmed Tinubu, PBAT, has approved the appointment of ten distinguished professionals to serve on the Board of Directors of the Ministry of Finance Incorporated (MOFI).
A statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, said Dr. Shamsudeen Usman, had been appointed the Board Chairman while Dr. Armstrong Ume Takang, will continue to serve as the Managing Director/Chief Executive Officer, MD/CEO.
According to the statement, other members include, “Mr. Tajudeen Datti Ahmed, Executive Director, Portfolio Management; Mr. Femi Ogunseinde, Executive Director, Investment Management; and Mrs. Oluwakemi Owonubi, Executive Director, Risk.
Others include, “Mrs. Fatima Nana Mede, Mr. Ike Chioke, Ms. Chantelle Abdul, Mr. Alheri Nyako, and Mr. Bolaji Rafiu Elelu, are all Non-Executive Directors.
The statement said President Tinubu charged the board of directors “on accurate and purposeful performance assessment of both commercial and non-commercial government-owned enterprises, as well as on the consistent attainment of the highest returns possible on all investments made in the trust of the Nigerian people”.
It reminded members that, “the President expects nothing less than the highest level of results-driven performance from this highly experienced and qualified MOFI Board and Management team”.
Institutional non-executive members that are statutorily expected to join the board in accomplishing its assigned tasks include; the Permanent Secretaries of the Ministries of Finance, and the Petroleum, the Accountant-General of the Federation, and representative of the Central Bank of Nigeria (CBN).
The Governing Council of MOFI is to be inaugurated by Mr. President on a date yet to be announced.
Dr. Armstrong Ume Takang, left, will continue to serve as the Managing Director/Chief Executive Officer, MD/CEO of MOFI
PRESIDENT MUHAMMADU BUHARI’S (PMB) APPOINTMENT OF 18th JANUARY, 2023
- Dr. Shamsuddeen Usman, Chairman,
- Mr. Olawale Edun,
- Hajiya Fatima Mede,
- Ike Chioke,
- Muhammad Nda,
- Barrister Alheri Bulus Nyako.
- Dr. Armstrong Katang as CEO,
- Eric Ojo, Executive Director, Portfolio,
- Sani Yakubu, Executive Director, Investment,
- Oluwakemi Owonubi, Executive Director, Risk.
PRESIDENT BOLA AHMED TINUBU’S, (PBAT) APPOINTMENT OF 24TH NOVEMBER 2023
- Dr. Shamsudeen Usman, Board Chairman,
- Dr. Armstrong Ume Takang, MD/CEO,
- Mr. Tajudeen Datti Ahmed, Executive Director, Portfolio Management,
- Mr. Femi Ogunseinde, Executive Director, Investment Management,
- Mrs. Oluwakemi Owonubi, Executive Director, Risk.
- Mrs. Fatima Nana Mede,
- Mr. Ike Chioke,
- Ms. Chantelle Abdul,
- Mr. Alheri Nyako,
- Mr. Bolaji Rafiu Elelu,
ABRIDGED PROFILE OF THE CHAIRMAN, MOFI BOARD OF DIRECTORS, Dr. SHAMSUDEEN USMAN
Dr. Shamsuddeen Usman was born on 18th September 1949 in Kano State, Nigeria. He was a former Minister of Finance, former Minister of National Planning, and a former Deputy Governor of the Central Bank of Nigeria, CBN.
He took over as the Board Chairman of Citibank Nigeria, from Dr. Yemi Cadosso, on 19th July 2022. Usman was the third Chairman of the bank in Nigeria since its inception.
Usman had served on the Board of Citibank Nigeria Limited as an Independent Non-Executive Director since 2017, until his appointment last year as the Board Chairman.
He provided an effective replacement for Dr. Olayemi Cardosso who retired from the Citibank Board, after 12 years of meritorious service as the bank Chairman.
President Muhammadu Buhari, on Thursday 19th January 2023, appointed Dr. Usman, as the Chairman of MOFI on a part-time basis.
Dr. Usman worked in various institutions in the public and private sectors of the Nigerian Economy. His work experience started as a Planning Officer (1974 – 1976) at the Kano State Ministry of Economic Planning, Lecturer at Ahmadu Bello University, Zaria from 1976 – 1981. Controller at the Nigerian Industrial Development Bank from 1981 to 1985, General Manager, NAL Merchant Bank, from 1985 to 1988, and Director-General of the Technical Committee on Privatization and Commercialization from January 1989 to December 1991.
Dr. Usman was Executive Director of, the International and Investments Sector, United Bank for Africa between 1992 and 1993, and Executive Director, Corporate and International Banking, Union Bank of Nigeria Plc, from April 1993 to October 1994. In October 1994, Dr. Usman was appointed Managing Director/Chief Executive, NAL Merchant Bank Plc, from where he was appointed a Deputy Governor in charge of Domestic Monetary and Banking Policy in the Central Bank of Nigeria on 4th June 1999.
Dr. Usman is a Chairman and Board Member of a number of institutions such as the Chairman of the Nigerian Export-Import Bank, Chairman of the Steering Committee of the Abuja Commodities Exchange (ACE), and a Board member of the African Export-Import Bank (AFRIEXIM) based in Cairo, Egypt, to mention but a few.
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