The Federal Government
has given details of members of the board and management of the newly licensed
Development Bank of Nigeria (DBN), with the management team led by a seasoned
banker, Mr. Tony Okpanachi, reports ITRealms.
Okpanachi, ITRealms gathered, before his appointment as MD/CEO of DBN, was the Deputy Managing
Director of Ecobank Nigeria Limited.
Prior to that, Okpanachi
was the Managing Director, Ecobank Kenya and Cluster Managing Director for East
Africa (comprising Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and
Ethiopia). He was also at various times Managing Director of Ecobank Malawi and
Regional Coordinator for Lagos and South West of Ecobank Nigeria.
A banker with over 26
years’ experience, Okpanachi holds a
Master degree in Business Administration (MBA) from Manchester Business School
UK and a Master of Science degree in Economics from University of Lagos.
He would be supported by
the Chief Financial Officer, Mrs. Ijeoma Ozulumba and Chief Risk Officer, Mr.
Olu Adegbola.
The Board members
include, according to the Director of Information at the Federal Ministry of
Finance, Mr. Salisu Na'inna Dambatta, listed the DBN Chairman, Dr. Shehu
Yahaya (who was the interim MD of DBN and former Executive Director, AfDB);
Managing Director/Chief Executive, Nigeria Sovereign Investment Authority, Uche
Orji and Mohammed Kalif, of the African Development Bank.
Independent Directors of
the DBN are former Group Managing Director/CEO of United Bank for Africa (UBA),
Mr. Philips Oduoza; President and CEO, African Finance Corporation,
Mr. Andrew Alli; Chairman, FBN Merchant Bank, Alhaji Bello Maccido;
Founder/Managing Director, JNC International Limited, Mrs Clare Omatseye and
the Managing Director, CEO Excel Professional Service Limited, Mr. Oladimeji
Alo.
ITRealms recalls that the
Finance Ministry had on Wednesday received notice from the regulator
that it was free to commence operations of the Micro, Small, and Medium
Enterprise (MSME) focused Development Bank of Nigeria.
Speaking at a recent
strategy retreat with the management team, board members, and other key
stakeholders of DBN in attendance, the Minister of Finance, Mrs. Kemi Adeosun
reaffirmed the importance of the DBN’s mandate and assured them of the public
sector support needed to ensure the DBN’s success.
“Despite limited access
to financing, MSMEs contribute a significant 45% to the national economy.
If these institutions could have reliable access to working and investment
capital at low cost, the multiplier effect on economic growth and job creation
would be significant” she said.
Chuks Egbune/GEE
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