Market price

Nigeria Commodities Exchange CEO Zaheera Baba-Ari couldn’t recall the market price of commodities when defending the 2021 budget

DRAMA ensued when Zaheera Baba-Ari, Managing Director and Managing Director of Nigeria Commodity Exchange (NCX) was unable to recall the market price of commodities while presenting the 2021 budget defense to the Senate Committee on Public Procurement.

A two-minute video captured by Oak TV shows the NCX boss defending the 2021 defense budget before the Senate committee.

During the hearing, Senator Tolu Odebiyi representing the Senate District of Ogun West and a member of the Senate Committee on Government Procurement in a question-and-answer session asked Baba-Ari to provide market prices for the products basic in its budget defense.

“Can you give me an idea or a price range of the commodity price in the document?” He inquired.

Baba-Ari could not provide an answer, saying that she could not give the cost of some of the products because the prices changed daily.

Odebiyi interrupted Baba-Ari when she said she could not give price estimates either, as she said commodity price data across the country is usually provided to her on a weekly basis. as she tried to enlist his help.

“I’m talking to you madam. No no no no. I’m telling you, give me an idea as the managing director of the commodities exchange, you should know, you should have an idea, ”Odebiyi said.

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In response to the investigation, Baba-Ari was unable to provide the prices for cocoa, soybeans and cashews that appeared on his 2021 budget defense proposal.

“You might not have today’s prices, but you should be able to tell it’s the price of cocoa… but the feeling I have is that you don’t even know it and that you are the general manager of the company.

“It shows how much you care about what you’re doing. It’s not just about managing the administrative functions of this area, it’s about being informed of how you interact with people if someone comes to you, you should have some idea ”, a- he declared.

President Muhammadu Buhari approved the reappointment of Baba-Ari as Managing Director and CEO, CEO of NCX for a second and final four-year term.

Baba-Ari joined NCX in 1999 as a Pioneer Head of the Exchange and Head of Human Resources and Corporate Services at EkoCorp Plc where she was responsible for corporate affairs.

She holds an MA in Languages ​​and Communication from the University of Ibadan in 1983 and a BA in English from the University of Maiduguri in 1981.