Jaiz chairman charges NNDC to reposition

Chairman of Jaiz Bank Plc, Mohammed Mustapha Bintube has asked New Nigerian Development Company (NNDC) to embark on a strategic repositioning, saying the company is a facilitator and not a competitor to state investment companies.

Bintube said this during his keynote address at the launch of the NNDC Code of Ethics and Business Conduct in Kaduna recently.

A statement signed by NNDC’s head of corporate planning, Mohmammed Abdullahi quoted Bintube as saying, “You repurpose when your present purpose is obsolete, discarded, or about to be obliterated.” 

The retired banker, however, commended the efforts of the Board and Management Team, who have devised transformative plans to revive the company, including: exploration of value-added opportunities in Oil & Gas such as the Kolmani Project in Gombe/Bauchi States.

According to him, “A strategic roadmap for harnessing opportunities in the solid minerals sector across the 19 Northern States is also imperative. Stock Portfolio Management & Realignment Resulting in a substantial improvement in NNDC’s stock valuation.”

Bintube who identified NNDC challenges to include capital, Human Capital development, and proliferation of state Investment companies, recommended that NNDC should find its niche in sectors like Oil & Gas Telecom, ICT/Digitalization, Innovation, Economic/Financial Inclusion, and the establishment of ICT-based schools.