The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has been appointed the Head the newly-constituted board of the Nigeria Electricity Liability Management Company Ltd. (NELMCO).
Ahmed is joined on the Board by the Minister of Power, Aliyu Abubakakar; Director-General, the Bureau of Public Enterprises (BPE), Alex Okoh; Director-General, Debt Management Office (DMO), Mrs. Patience Oniha; Managing Director, NELMCO, Adebayo Fagbemi, all the Executive Directors of NELMCO and two private sector members.
A statement issued by the BPE yesterday, said the appointments followed the approval by the National Council on Privatisation (NCP) for the immediate composition of the governance framework for the sustainable management and payment of post privatisation liabilities of the power sector transferred to NELMCO, which hitherto was without a board.
This was one of the major decisions taken by the Council at its 3rd meeting for 2022 held at the Presidential Villa, Abuja on Thursday, June 30th, and presided over by the Vice President, Yemi Osinbajo (SAN).
The Council was said to have noted the need to ensure an appropriate governance framework and sustainable management of the NELMCO’s affairs, as contained in the provisions of its Memorandum and Articles of Association (MEMART), which necessitated the constitution of the Board.
The Council noted the need to ensure an appropriate governance framework and sustainable management of the NELMCO’s affairs…
