FG warns Boards against interference in agencies’ running

The Federal Government on Thursday inaugurated the Boards of four parastatals under the supervision of the Ministry of Trade and Investment.
They are the Standards Organisation of Nigeria, the Corporate Affairs Commission, the Nigerian Export Promotion Council and the Oil and and Gas Free Zone Authority.
The CAC’s 10-member board is led by Mr. Funsho Lawal as Chairman, while other members include Prof. Adedeji Adekunle and Dr. Ausbeth Ajagu, among others.
For the NEPC, its 11-member board has Mrs. Grace Clark as Chairman and Ambassador Asalina Mamuno and Alh.Salisu Umar as members, among others.
OGFZA’s 14-member board is led by Barrister Chris Asoluka, while other members include General Geofrey Ejiga (rtd) and Barrister Mary Mbu, among others.
For SON, its 10-member board has Alhaji Abubakar Mustapha as Chairman, with Engineer Abubakar Magaji and Roseline Ekun as members, among others.
Speaking during the inauguration ceremony in Abuja, the Minister of Trade and Investment, Olusegun Aganga, said members of the newly-constituted board comprised men and women of integrity, knowledge and experience in the public and private sectors of the Nigerian economy.
The minister, who was represented by the Minister of State for Trade and Investment, Dr. Samuel Ortom, said: “The ministry and all its parastatals share a common mandate anchored on: creating the enabling environment to stimulate domestic investment and attract foreign direct investment into all sectors of the economy and making Nigeria the most preferred investment destination; facilitating trade in goods and services and maximizing the benefits of international trade through functional bilateral and multi-lateral trade relations with other countries.
“The ministry is also responsible for boosting industrial development and enabling Micro, Small and Medium Enterprises as the engine of economic growth.
“A careful look at the composition of the various Boards shows that most of the members are not only knowledgeable and highly experienced but are also key players in their various fields in the public and private sectors of the economy.
“This is definitely a great advantage to the agencies concerned as they will be able to benefit, not only from the tremendous goodwill of their board members, but also from their wealth of deep knowledge.”
While acknowledging the important role of board members in formulating good policies that will drive the operations of the parastatals, the minister said they were not to interfere in the day-to-day running of their respective parastatals.
He said: “Boards of Parastatals are responsible for setting out broad economic, financial, operational administrative guidelines and targets for their various agencies.
“They are concerned with policy issues, monitoring of institutional projects/programmes and ensuring that the parastatal’s mandates are realized.
“You are therefore enjoined to adhere strictly to the provisions of the enabling Acts of your agencies as well as financial regulations and guidelines on administrative procedures.
“While congratulating you on your well deserved appointment, may I emphasise that your appointment is on part-time basis only.
“As such, you are not expected to interfere or participate in the day-to-day running of your respective agencies.”
He added: “I must stress at this juncture that no chairman or board member is entitled to an official vehicle on permanent basis.
“Same goes for office or residential accommodation.
“In addition, you are enjoined to comply with the provisions of extant circulars governing your tenure/appointment, especially circular No. SWC/S/04/S.310/105, dated 10th June, 2010 issued by the National Salaries, Incomes and Wages Commission, which specified your allowances and frequency of meetings.”
The minister, however, charged the new appointees to ensure that their activities are geared towards the actualization of President Goodluck Ebele Jonathan’s Transformation Agenda.