The Nigeria Football Federation on Friday congratulated the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane on his appointment as Chairman of the Presidential Committee on New Minimum Wage.
President Muhammadu Buhari (GCFR) on Wednesday inaugurated the committee, just before the first meeting of the Federal Executive Council (FEC) in the year 2019. The committee is a technical advisory body on the implementation of the new minimum wage for Nigerian workers.
Financial Derivatives Company Limited is the Financial Consultant of the Nigeria Football Federation.
In his congratulatory message, President of the Nigeria Football Federation, Mr. Amaju Melvin Pinnick, noted that the NFF has always been convinced of the integrity, capacity and competence of Mr. Rewane, whose hard work and diligence has taken Financial Derivatives Company Limited to the very top in Nigeria’s economic circle.
“When the present NFF Board came into office, we sought advice on the most respected and credible company to make our Financial Consultants, and Financial Derivatives Company Limited came highly recommended. We did not hesitate to appoint the company. The company has also become our Financial Adviser.
“We trust that Mr. Rewane and his committee will do a great job to justify the confidence reposed in them by President Muhammadu Buhari (GCFR).”
Bismarck Rewane earned a first degree in economics from the University of Ibadan in 1972 and became an Associate of the The Institute of bankers (England and Wales) three years later. In 1976, he joined the First National Bank of Chicago, USA as Deputy Manager (Credit). He joined the International Merchant Bank (Nigeria) in 1981 and served as General Manager until 1996. He has been an independent Non-Executive Director/Member, Statutory Audit Committee of FCMB Group since 2002, and serves on the boards of several blue –chip concerns within Corporate Nigeria. He has also addressed countless professional and business gatherings on subjects such as foreign exchange management, liability management in a deregulated economy, tools of money market analysis and techniques of investment in pubic debt instrument.
Other members of the committee from the private sector are Mrs Ifueko Omoigui-Okauru (former Chairman, Federal Inland Revenue Service); Suleiman Barry; Dr. Ayo Teriba and; Professor Akpan Ekpo. There are 19 other persons from the public sector, including the current Chairman of FIRS, Dr. Babatunde Fowler; a representative of the Governors’ Forum; the Chairman of the National Salaries, Incomes and Wages Commission, Chief Richard Egbule and; the Accountant-General of the Federation, Mr. Ahmed Idris.
The committee, which will deliberate on sustainable sources of funding the new minimum wage, as well as plans for its implementation, has one month to submit its report and recommendations.