By Henry UMORU, Abuja
THE Federal government said yesterday that if the country must achieve the Millennium Development Goals, MDGs and the set target of becoming one of the top 20 economic nations of the world, the Bank of Industry, BOI must ensure that its operational strategies were designed to meet with the challenges.

Speaking on Friday while inaugurating the BOI’s Board of Directors, Minister of State for the Ministry of Commerce and Industry, Ms Josephine Yinoe Tapgun, stressed the need for the bank to ensure that it was run strictly in line with professional lines and in keeping with international best practice.

According to her, “the Federal Government and BOI’s shareholders demand strict adherence to relevant legislations, regulations and guidelines especially the Company Laws of Nigeria, the Banking and Other Financial Institutions Act the prudential Guidelines issued by the Central Bank of Nigeria.

“The Federal Government has ensured that members of the executive management that include the Managing and Chief Executive, and two Executive Directors are very qualified and highly experienced professional bankers. We are positive that their synergy will certainly bring considerable value to the Bank of Industry.

The Minister however challenged the Organized Private Sector to take advantage of package of incentives, such as these, by the government to diversify the nation’s economy from oil to non_oil sector.

The new BOI board as Chairman, Abdulsamad Rabiu, the BOI Managing Director/ CEO, Evelyn Oputu as appointed by the Federal government, Mr. Chris Umeh representing the Central Bank of Nigeria, CBN is an Executive Director;  Mohammed Alkali also appointed by the government is an Executive Dirrector on the board.

Also to serve on the new board as Directors are Chief Lawrence Osayemi representing the Manufacturers Association of Nigeria, MAN, Mohammed Dikwa from the Ministry of Finance, Alfred Fabamwo also from CBN; Emmanuel Attah Ocholi, a retired banker and Mrs A.F. Olumudimu representing Federal Ministry of Commerce and Industry.

Responding, the Board Chairman, Abdulsamad Rabiu who promised to ensure that professionalism was entrenched, stressed that the bank will continue to bring out the best for the country.

“We shall work not to please others, but because we value what this institution stands for. We will work because we believe in its future. To revitalize our common endeavour is to renew our faith not only in the BOI programmes and purposes but also in each other.

Both the Board and Management of the bank will work together to make a change because if we take wise decision, and work together transparently, flexibly and honestly, progress in a few areas will lead to progress in many more”.