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

Mr. Stores will replace Mr. Ado Danjuma, who represented the North West Zone, and has now been recently appointed CEO of the Nigeria Security Printing and Minting Company Limited.

In addition, the President approved the appointment of new members and the re-election of some existing members on the board of the Nigerian Deposit Insurance Corporation (NDIC).

The appointment of the current Council members whose four-year term began on December 9, 2018 expired on December 9, 2022.

It should be noted that regardless of the length of appointment, NDIC operates a semester system for its Board. Therefore, the board is dissolved at the end of the term of the first appointment.

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

It becomes imperative to reconstitute the NDIC governing board to avoid a vacuum, ensure smooth operations of the corporation, and ultimately increase stakeholder and customer confidence within the financial and banking sectors of the economy. the nation.

The board of directors is reconstituted by appointing five new members, including the president, 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 on the Board is aimed at injecting new ideas needed to reposition the corporation for better performance,” the statement issued by the ministry said.

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

Haruna Mustapha, Director, Banking Supervision Department, Central Bank of Nigeria); Bello Hassan, managing director member; Mustapha Ibrahim, chief operating officer; and Ms. Emily Osuji, Executive Director of Corporate Services.

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