Nigeria just dropped its first-ever awards program for government-owned companies, and Finance Minister Wale Edun says it's basically about making sure public enterprises actually run properly instead of being trash. The MOFI Excellence Awards will hand out recognition to state agencies that show solid governance and performance, with an independent panel from groups like the Financial Reporting Council and Nigeria Exchange Group doing the judging.
MOFI boss Armstrong Takang mentioned they already rolled out a Corporate Governance Scorecard earlier this year that got more than half their portfolio companies involved, and this awards thing is supposed to push that momentum further. The whole point is getting agencies to compete healthily and learn from each other when they see peers getting celebrated for doing things right.
The panel starts reviewing agencies soon, and the government wants this to become a yearly tradition for calling out excellence in how public assets get managed.
MOFI boss Armstrong Takang mentioned they already rolled out a Corporate Governance Scorecard earlier this year that got more than half their portfolio companies involved, and this awards thing is supposed to push that momentum further. The whole point is getting agencies to compete healthily and learn from each other when they see peers getting celebrated for doing things right.
The panel starts reviewing agencies soon, and the government wants this to become a yearly tradition for calling out excellence in how public assets get managed.
