Finance Minister Wale Edun launched the MOFI Excellence Awards in Nigeria to reward government enterprises that actually follow good governance rules and hit performance targets. The panel judging these agencies includes heavyweights from the Financial Reporting Council, Society for Corporate Governance Nigeria, Chartered Institute of Directors, Nigeria Exchange Group, and Chartered Risk Management Institute. Dr. Armstrong Takang from the Ministry of Finance Incorporated said this program marks the first time Nigeria officially recognizes public companies for running things properly.
Edun wants boards and management teams getting praised for transparency and accountability instead of just existing on paper. The government plans to use this as an annual benchmark to push state enterprises toward better standards. Dr. Shamsudeen Usman said the awards should spark competition among agencies when they see peers getting celebrated for strong work.
Edun wants boards and management teams getting praised for transparency and accountability instead of just existing on paper. The government plans to use this as an annual benchmark to push state enterprises toward better standards. Dr. Shamsudeen Usman said the awards should spark competition among agencies when they see peers getting celebrated for strong work.
