The Minister of Finance, Budget and National Planning, Zainab Ahmed, has reinstated the Managing Director of Nigeria Bulk Electricity Trading Company (NBET), Marilyn Amobi, who was earlier sacked by the Minister of Power, Sale Mamman.
In the reconstituted NBET board inaugurated, Amobi was announced as one of the board members in the capacity of Managing Director/Chief Executive Officer.
The Finance Minister, who is also the Board Chairman of NBET, stated in her address at the inauguration of the reconstituted board, that electricity was still being deregulated across the country.
She, however, noted that the deregulation of electricity in Nigeria must evolve fast.
Ahmed, therefore, urged the board members to ensure all hands were on deck and that their tenure as the board in the transitional market trading arrangement should leave a good mark in the sands of time.
The Minister of Power, Sale Mamman, had ordered Amobi to vacate the position of MD/CEO of NBET on two separate occasions.
Marilyn Amobi reportedly proceeded to perform official duties despite being ordered by the Minister of Power, Sale Mamman, to immediately hand over to a new appointee.
President Muhammadu Buhari has approved the reconstituted board of directors of NBET.
The 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.