President Muhammadu Buhari has approved the appointment of Stella Ojekwe-Onyejeli and Aminu Umar-Sadiq as Executive Directors on the Nigeria Sovereign Investment Authority, NSIA, board.
The NSIA spokesman, Titilope Olubiyi made the announcement in a statement on Wednesday in Abuja.
Mr Olubiyi said that Ojekwe-Onyejeli was reappointed as Executive Director for a second term, while Umar-Sadiq, who was a former Deputy Head of Direct Investment at NSIA, was appointed for the first time.
He said the appointments would strengthen the Authority’s executive team and was consistent with its focus of remaining a key participant in Nigeria’s economic transformation.
He also said the appointments were in line with the realignment of the Authority’s strategy to improve domestic infrastructure investments.
He said that the investments were in core domestic infrastructure sectors such as: motorways, agriculture, healthcare, power, and education.
“Recent NSIA initiatives reflect this increased focus on domestic infrastructure include the Presidential Infrastructure Development Fund (PIDF) which will fast-track the completion of five infrastructure projects of national priority.
“The projects are the Abuja-Kano Roadway, Second Niger Bridge, East-West Roadway, Lagos-Ibadan Expressway, and Mambilla Hydroelectric Power Plant.
“NSIA is also galvanising investments in tertiary healthcare.
“The Authority invested in the development of the LUTH Cancer Treatment Centre and is developing advanced diagnostic centres in AKTH, Kano and FMC, Umuahia,” he said.
Mr Olubiyi reiterated the Authority’s commitment to the development of strategic infrastructure initiatives in Nigeria and stabilisation support during economic stress.
Also, Chairman, NSIA Board of Directors, Jide Zeitlin, said “both appointees are committed professionals who along with other talented colleagues, have been instrumental in NSIA’s development.
“These appointments will strengthen the Authority’s executive team and are consistent with our focus on maintaining a broadly representative leadership team and workforce,” he said.
Mrs Ojekwe-Onyejeli was first appointed an Executive Director in October 2012 and served as the Chief Risk Officer of the NSIA until 2017 when her role was expanded to that of Chief Operating Officer.
She joined the Authority from Barclays where she was Director and Head of Operational Risk and Control at the Bank, overseeing 15 countries across Africa, Middle East and Asia.
Mrs Ojekwe-Onyejeli, a Chemistry graduate from the University of Lagos, also had Masters in Business Administration, MBA, from Cranfield School of Management in the UK.
Umar-Sadiq has significant experience in investment banking, private equity and public finance, including his most recent role at the NSIA where he served as a Senior Vice-President and Deputy Head, Infrastructure.
He is a Bauchi-State academic scholar and holds Bachelor and Master degrees in Engineering Sciences from the University of Oxford.