Abuja — In a major move to strengthen transparency and accountability in the management of public assets, the Ministry of Finance Incorporated (MOFI) has announced plans to unveil the inaugural MOFI Excellence Awards in the second quarter of 2026.
The initiative, according to MOFI, is designed to recognise and reward outstanding governance, discipline and performance across Federal Government-owned enterprises, while institutionalising global best practices in public enterprise management.
In a statement signed by the Managing Director/Chief Executive Officer of MOFI, the ministry said the awards underscore its commitment to enforcing transparency, accountability and sound corporate governance in line with President Bola Ahmed Tinubu’s ongoing economic reform agenda.
The statement noted that the awards are anchored on the MOFI Corporate Governance Scorecard, launched in April 2025, which serves as a comprehensive framework for assessing Boards and Management teams against international standards of transparency, risk management and operational efficiency.
To ensure credibility and independence, MOFI disclosed that an independent technical panel, inaugurated in December 2025 by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, will evaluate government-owned enterprises. The assessment will be based on stringent criteria, including regulatory compliance, Board effectiveness, financial discipline and sectoral impact.
According to the ministry, the awards represent a fundamental shift in the oversight of public enterprises in Nigeria.
“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.
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MOFI added that the initiative reinforces the principle that good governance is no longer optional, but a mandatory requirement for institutions entrusted with public resources.
The ministry said the awards are expected to drive improved performance across government-owned enterprises, strengthen investor confidence and promote sustainable economic growth.
Further details on the awards are available on MOFI’s official website, www.mofi.com.ng.
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