- To acknowledge distinction in public enterprise governance
BY COBHAM NSA – Determined to promote transparency, accountability, and good governance across Federal Government-owned enterprises, the Ministry of Finance Incorporated (MOFI) is set to host the maiden Excellence Awards in the second quarter of 2026.
The MOFI Excellence Awards are a culmination of the Ministry’s efforts to establish a robust governance framework that aligns with President Bola Ahmed Tinubu’s ‘Renewed Hope’ economic reform agenda.
A statement by the Managing Director and Chief Executive Officer of MOFI, Dr Armstrong Takang, said this milestone event underscores MOFI’s recognition of institutions that demonstrate exceptional governance, discipline, and performance.
Additionally, the statement said the development is meant to reinforce the notion that “Good Governance is Not optional.”
The statement further explained that MOFI Corporate Governance Scorecard, launched in April 2025, provides the foundation for evaluating Board and Management teams against global standards of transparency and risk management.
This is as it was also learnt that an independent technical panel, inaugurated by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in December 2025, will assess portfolio companies against stringent criteria, including regulatory compliance, Board effectiveness, and sectoral impact.
“The MOFI Excellence Awards mark a structural shift in how Nigeria manages public enterprise: transparency is mandated, compliance is measured, and institutional outcomes remain the ultimate measure of fiscal discipline,” the statement said
