Five new independent directors have been appointed to the board of the Development Bank of Nigeria (DBN) Plc. to cover open positions.
One of the appointments, Dr. Tony Okpanachi, the Managing Director, was made public today in Abuja as part of the bank’s ongoing efforts to fortify its corporate governance and leadership teams.
He stated that the organisation was still dedicated to its goal of advancing economic development and inclusive growth through the nation’s Micro, Small, and Medium-Sized Enterprises (MSMEs) vehicles.
As the organisation continued to expand and mould the dynamic MSME finance landscape in Nigeria, he continued, progress confirmed DBN’s commitment to sustainable development, excellence, and innovation.
The MD commented on the value the new directors were adding to the board: “Their diverse expertise and leadership will be instrumental as we continue to drive financial inclusion and support economic growth in Nigeria.
“At the same time, we extend our deepest gratitude to our esteemed pioneer directors for their unwavering dedication and contribution. They have been pivotal to DBN’s success story, and we wish them the very best in their future endeavours,” he added.
The banking and finance news discloses that Mr. Urum Eke, Mr. Mohammed Bintube, Ms. Folakemi Fatogbe, Mrs. Juliet Anammah, and Ms. Imoni Akpofure were the directors.
At CDC Group Plc (formerly British International Investment), the UK’s Development Finance Institution, which makes investments in sustainable private companies in underdeveloped nations to spur economic progress, Ms. Akpofure served as the Regional Director for Africa.
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At the moment, Mr. EKe serves as Executive Chairman of the Lagos-based Fairchild Group, a fully integrated business advising organisation.
Continuing, he held non-executive directorships on the boards of First Bank of Nigeria Limited and FBN Holdings Plc, where he was the Group Managing Director.
As of January 2020, Mrs. Anammah served as the Chief Executive Officer of Jumia Nigeria; Mr. Bintube is the current Chairman of Jaiz Bank.
Ms. Fatogbe previously worked as a Special Advisor on Risk Management and Banking Reforms for Lamido Sanusi, the former governor of the CBN. Furthermore, she was the first-ever Director of Risk Management at the bank.
The DBN Board was recently emptied of the following directors: Mr. Andrew Alli, Mrs. Clare Omatseye, Mr. Phillips Oduoza, Dr. Oladimeji Alo, Mr. Bello Maccido, and Dr. Shehu Yahaya, who held the position of Chairman.
However, to provide medium- to long-term financing to MSMEs, the Federal Government of Nigeria established DBN in collaboration with a number of international finance institutions, including the World Bank, African Development Bank (AfDB), KfW Development Bank (Germany), Agence Francaise de Developpement (AfD), and the European Investment Bank (EIB).
