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Nigeria News

Buhari Appoints New NSIA CEO, Executive Directors

 

Buhari Appoints New NSIA CEO, Executive Directors
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Nigeria’s President, Muhammadu Buhari has appointed Aminu Umar-Sadiq as the Managing Director and Chief Executive Officer of the Nigeria Sovereign Investment Authority (NSIA).

Yunusa Tanko Abdullahi, the spokesman to the Minister of Finance, Zainab Ahmed, made the disclosure in a statement on Monday in Abuja.

According to the statement, President Buhari also approved the appointments of Kolawole Owodunni and Bisi Makoju as Executive Directors of the agency.

It described Bisi Makoju as a financial expert with vast experience in risk management while Kolawole Owodunni as a professional in the financial services sector with vast knowledge in investment management, risk management and treasury.

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The statement added that Umar-Sadiq’s appointment follows the tenure expiration of the former NSIA boss, Uche Orji, on September 30, 2022. It added that Orji’s tenure expired after serving two five-year terms following his appointment on October 2, 2012.

The statement said Umar-Sadiq, who has a vast experience in the Investment and Infrastructure industry, was a former Executive Director and head of Infrastructure at NSIA.

It added that the appointees are all expected to help steer and transform the investment and infrastructure industry and propel the sector to a high pedestal.

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Naija News reports that the National Economic Council (NEC) had approved the new nominees for the NSIA top positions during its meeting last week.

In a statement issued by Laolu Akande, the media aide to Vice-President Yemi Osinbajo, the names of the nominees were presented, approved and forwarded to the President for his approval.

Profile Of Umar-Sadiq

Umar-Sadiq holds a Bachelor’s and Master’s degree in Engineering Sciences from the University of Oxford (Saint John’s College), Oxford, United Kingdom (UK).

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According to the NSIA website, the new boss is also an Archbishop Tutu Leadership Fellow (ATLF) and also Mandela Washington Fellowship (MWF).

Umar-Sadiq commenced his professional career in Mergers and Acquisitions M&A) focused on Infrastructure and Energy at Morgan Stanley Investment Bank, proceeding to Infrastructure-focused private equity at Denham Capital Management, all in the UK.

He has worked on several projects, including the Presidential Fertiliser Initiative, an import substitution program for the delivery of 1 million high-quality, lower-cost farmers at lower cost metric tons of fertiliser.

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The new NSIA boss was also a part of the Presidential Infrastructure Development Fund, an investment fund focused on the actualisation of five strategic nationwide projects in the transportation and power sectors.