Finance minister reinstates sacked NBET boss, Marilyn Amobi

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has reinstated embattled Managing Director of Nigeria Bulk Electricity Trading Company, Marilyn Amobi, who was earlier sacked by the Minister of Power, Sale Mamman.

In the reconstituted NBET board inaugurated by Ahmed, Amobi, whose tenure ends on July 24, 2020, was announced as one of the board members in the capacity of Managing Director/Chief Executive Officer.

Earlier, on June 16, 2020, a memo emanated from the Federal Ministry of Finance signed by the Permanent Secretary Dr. Mahmoud Isa-Dutse confirming the sacking of Dr. Amobi and the appointment of Dr. Ewelukwa to the position of MD/CEO of NBET. However, a twist was introduced in the matter, when the memo stated that “The President has approved that you serve out your tenure at the completion of which you should hand over to Dr. Nnaemeka Ewelukwa who is to take over from you as the MD/CEO. Your appointment which took effect from 25th July 2016 for four years is to end on 24th July 2020”.

On two occasions, the Minister of Power, Sale Mamman, had ordered Amobi to vacate the position of MD/CEO of NBET, only to be over-ruled.

On December 24, 2019 the Minister of Power, Engr. Sale Mamman had in a terse press release announced the sacking of the embattled MD/CEO. Two weeks after the removal and following an intense and sustained lobbying by Dr. Amobi, her removal was reversed by the Secretary to the Government of the Federation Mr. Boss Mustapha.

The President, Major-General Muhammadu Buhari (retd.) had approved the recently reconstituted board of directors of NBET.

Members of the board include a non-executive director from the Ministry of Power, to be represented by staff, not below the level of a director; Mr. Alexander Okoh, as a non-executive director from the Bureau of Public Enterprises (80 per cent shareholder in NBET).

Others include Patience Oniha, Director-General, Debt Management Office, as non-executive director; Ben Akabueze, Director-General, Budget Office of the Federation, as a non-executive director.

Also appointed were Suleyman Ndanusa, former Director-General of Securities and Exchange Commission, as a non-executive director (Independent); Mustapha Shehu, former President, Nigeria Society of Engineers, as a non-executive director (Independent).

Adeyeye Adepegba was also appointed as a non-executive director (Independent); and Amobi, as MD/CEO.

• Partly based on a report by The PUNCH.