Finance minister reinstates sacked NBET boss, Amobi

Former minister of Finance, Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has reinstated embattled Managing Director of Nigeria Bulk Electricity Trading Company, Marilyn Amobi, who was earlier sacked by the Minister of Power, Sale Mamman.

In the reconstituted NBET board inaugurated by Ahmed, Amobi, whose tenure ends on July 24, 2020, was announced as one of the board members in the capacity of Managing Director/Chief Executive Officer.

On two occasions, the Minister of Power, Sale Mamman, had ordered Amobi to vacate the position of MD/CEO of NBET.

In her address at the inauguration of the reconstituted board, Ahmed said electricity was still being deregulated across the country.

The finance minister, who doubles as the Board Chairman of NBET, however, noted that the deregulation of electricity in Nigeria must evolve fast.

Ahmed, therefore, urged the board members to ensure all hands were on deck and that their tenure as the board in the transitional market trading arrangement should leave a good mark in the sands of time.

The President, Major-General Muhammadu Buhari (retd.) had approved the reconstituted board of directors of NBET.

Members of the board include a non-executive director from the Ministry of Power, to be represented by staff, not below the level of a director; Mr. Alexander Okoh, as a non-executive director from the Bureau of Public Enterprises (80 per cent shareholder in NBET).

Others include Patience Oniha, Director-General, Debt Management Office, as non-executive director; Ben Akabueze, Director-General, Budget Office of the Federation, as a non-executive director.

Also appointed were Suleyman Ndanusa, former Director-General of Securities and Exchange Commission, as a non-executive director (Independent); Mustapha Shehu, former President, Nigeria Society of Engineers, as a non-executive director (Independent).

Adeyeye Adepegba was also appointed as a non-executive director (Independent); and Amobi, as MD/CEO.


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