President Buhari has reconstituted the Board of Directors of the Nigeria Bulk Electricity Trading Company Plc (NBET), in his efforts to make it more productive and ultimately improve electricity supply in Nigeria.
NBET, while domiciled with the Ministry of Power was bogged down by several internal squabbles between bordering on fraud and insubordination between its management and the supervising Ministry.
The development forced the Presidency to relocate NBET to the Finance Ministry.
Under the newly reconstituted NBET Board, the Minister of Finance, Budget and National Planning; Mrs Zainab Ahmed is the Chairman, while a staff from Ministry of Power, not below the level of a director as a non-Executive Director.
Others are Mr. Alexander Okoh, as non–Executive Director from the Bureau of Public Enterprises, which holds 80% shares in NBET.
Ms. Patience Oniha, Director-General, Debt Management Office, is also non-Executive Director on the board, while Mr Ben Akabueze, Director-General, Budget Office of the Federation is another non-Executive Director.
Also appointed are Suleyman Ndanusa, former Director-General of Securities and Exchange Commission (SEC), as Non-Executive Director (Independent); Mr Mustapha Balarabe Shehu, former President Nigeria Society of Engineers (NSE), as non-Executive Director (Independent); Mr. Adeyeye O. Adepegba as Non-Executive Director (Independent); and Dr. Marilyn Amobi, as Managing Director/ Chief Executive Officer.
The appointments take immediate effect.
