MOFI Set to Unveil Inaugural Excellence Awards

Ndubuisi Francis in Abuja

The Ministry of Finance Incorporated (MOFI) is set to announce the inaugural MOFI Excellence Awards, scheduled for the second quarter of 2026, and designed to instil the culture of good corporate governance among government-owned enterprises (GOEs).

The awards panel of the fiirst-of-its-kind initiative in the country dedicated to recognising excellence in corporate governance and performance across Federal Government-owned and linked enterprises, was constituted in December 2025.

MOFI said in a statement Sunday that the awards will hold in the second quarter of 2026,  although no specific date was given.

According to the statement, “This milestone event underscores MOFI’s commitment to promoting transparency, accountability and good governance across Federal Government-owned enterprises.

“The MOFI Excellence Awards are a culmination of the ministry’s efforts to establish a robust governance framework, aligned with President Bola Ahmed Tinubu’s economic reform agenda.

“The 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.

“An independent technical panel, inaugurated by Honourable 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 added that the awards will recognise institutions that demonstrate exceptional governance, discipline and performance, reinforcing the notion that “Good governance is not optional”.

Inaugurating the awards panel chaired by Chief J.K. Randle last December, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said: “The MOFI Excellence Awards are not about applause for its own sake; they were conceived to promote corporate governance excellence, high institutional performance, and strategic alignment across MOFI’s portfolio of public enterprises.”

He alluded to the programme’s intent to drive fundamental changes in the public sector, adding that: “In essence, this programme will shine a spotlight on those boards and management teams that exemplify transparency, accountability and strong performance.”

The minister noted that the awards seek to recognise agencies and their leaders who demonstrate high standards of transparency, accountability, and performance in managing public assets, stressing that by doing so, the Federal Government sends a clear message that good governance and results will be rewarded, and that every entity under MOFI should strive towards the highest ideals of service and stewardship.

Also, the Managing Director of MOFI, Dr. Armstrong Takang, described the awards as a “first-of-its-kind initiative in Nigeria dedicated to recognising excellence in corporate governance and performance across Federal Government-owned and Linked Enterprises”.

He underscored the ambitious reform agenda MOFI has continued to pursue over the past year to transform the management of Nigeria’s public assets, noting that from launching the MOFI Corporate Governance Scorecard to now instituting an awards programme, MOFI is “translating reform ideas into tangible outcomes”.