Buhari Appoints New Members For FIRS, NDIC Boards

President Muhammadu Buhari has approved the appointment of Mr. Lawal Sani Stores on the board of the Federal Inland Revenue Service (FIRS), the minister of finance, budget and national Zainab Ahmed said in a statement that was signed by her spokesman Yunusa Abdullahi.

Mr. Stores is to replace Mr. Ado Danjuma, who represented the North West Zone, and has now been recently appointed executive director in the Nigeria Security Printing and Minting Company Limited.

Also, the president approved the appointment of new members and the reappointment of some existing members to the board of the Nigeria Deposit Insurance Corporation (NDIC).

The appointment of the existing members of the Board whose four-year term began on 9th December, 2018 expired on 9th December, 2022. 

It is noteworthy that irrespective of the tenure of the appointment, NDIC operates a semester system for its Board. Therefore, the board stands dissolved at the end of the tenure of first appointment.

The board has five other members whose membership is by virtue of institutional or Office representation in line with the provision of Section 5 (2 c and d) of the NDIC, Act, 2006.

It becomes imperative to reconstitute the governing board the NDIC to avoid vacuum, ensure smooth operations of the corporation and ultimately boost the confidence of stakeholders and clients within the financial and banking sectors of the nation’s economy.

The governing board is reconstituted through the appointment of five new members including the chairman to form a new board of directors to oversee the affairs of the corporation for the next four years.

“The appointment of some new members into the Board is aimed at injecting fresh ideas necessary to reposition the corporation for enhanced performance,” the statement that was issued by the ministry said.

Those appointed into the board of the NDIC are Dr. Abdulhakeem Mobolaji Abdullateef who is chairman of the board. While Prof. Osita Ogbu was appointed new member of the board, Umar Gambo Jibrin was reappointed as member; Yasmin Zabath Dalhatu; Mohammed Attahiru Haruna; Simon Ogie; Abimbola Olashore; and director of home finance in the ministry of finance, Muhammed Ali as members of the board. 

Haruna Mustapha, director, banking supervision department, Central Bank of Nigeria); Bello Hassan, managing director member; Mustapha Ibrahim, executive director operations; and Ms. Emily Osuji, executive director corporate services.

On the flip side, Stores was born on March 11, 1956 in Katsina, Katsina state. He obtained Higher National Diploma (HND) in Business Studies from West Bromwich College of Commerce and Technology, England.  He also attended Bayero University, Kano, where he obtained both Post Graduate Diploma (PGD) in Management, and Master in Business Administration (MBA) in Finance and Investment.