The Ministry of Finance Incorporated (MOFI) is set to launch its inaugural MOFI Excellence Awards in the second quarter of 2026, an initiative designed to promote transparency, accountability, and good governance across Federal Government-owned enterprises.
The announcement was made by Dr. Armstrong Takang, MD/CEO of MOFI, who described the initiative as a landmark step toward institutionalising accountability across public enterprises.
In his words he stated “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,” Dr. Takang said.
The awards are built on the MOFI Corporate Governance Scorecard, launched in April 2025, which evaluates Boards and Management teams against global standards for transparency, risk management, and operational effectiveness.
“By setting measurable standards, we are ensuring that public institutions are not only compliant with regulations but also deliver real value to Nigerians,” Dr. Takang added.
An independent technical panel, inaugurated by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in December 2025, will rigorously assess portfolio companies. The evaluation criteria include regulatory compliance, Board effectiveness, sectoral impact, and overall performance.
Commenting on the initiative, Mr. Edun stated, “The MOFI Excellence Awards demonstrate our administration’s commitment to President Bola Ahmed Tinubu’s economic reform agenda. Recognising excellence in public enterprise governance strengthens transparency, enhances accountability, and ultimately benefits every Nigerian.”
The awards will spotlight institutions that have demonstrated exceptional governance, operational discipline, and sustained performance.
Dr. Takang emphasised that the initiative is part of a broader effort to foster a culture where “Good Governance is Not Optional.”