Post Views: 75 The Presidency at the weekend confirmed the appointment of Mrs. Stella Ojekwe-Onyejeli and Aminu Umar-Sadiq as executive directors of t...
The Presidency at the weekend confirmed the appointment of Mrs. Stella Ojekwe-Onyejeli and Aminu Umar-Sadiq as executive directors of the Nigeria Sovereign Investment Authority, managers of the nation’s Sovereign Wealth Fund.
While Ojekwe-Onyejeli, the chief operating officer was reappointed for another five-year term, Umar-Sadiq, the Deputy Head of Direct Investments, begins his first five-year term.
A statement by the fund quoted Jide Zeitlin, Chairman of the board as saying the “appointments strengthen the Authority’s executive team and are consistent with our focus on maintaining a broadly representative leadership team and workforce so as to ensure that the institution remains a key participant in Nigeria’s economic transformation.”
Both appointees, he continued, “are committed professionals who, along with other talented colleagues, have been instrumental in NSIA’s development.”
Mrs. Ojekwe-Onyejeli was first appointed in October 2012, she has a wealth of experience spanning nearly three decades, before which was Director and Head of Operational Risk and Control at Barclays Bank, overseeing 15 countries across Africa, Middle East and Asia.
Prior to joining Barclays, Ojekwe-Onyejeli a graduate of Chemistry from the University of Lagos, an MBA from Cranfield School of Management in the UK and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), held senior positions at Citibank.
She is also a qualified Chartered Financial and Tax Accountant and Alumna of both the Oxford and Wharton Executive Management Programmes.
On his part, Umar-Sadiq, an investment banker, a Bauchi-State academic scholar, garnered experience in 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.
A Bachelor’s and Master’s degrees holder in Engineering Sciences from the University of Oxford, Umar-Sadiq is an Archbishop Desmond Tutu Fellow, a Nigeria Leadership Initiative Associate and a Mandela Washington Fellow.
Since joining NSIA, he has led the development, execution and management of critical domestic infrastructure projects in the agriculture, healthcare, roads, real-estate and power sectors. Before joining the NSIA, he worked in mergers and acquisitions at Morgan Stanley focused on the Energy and Utilities sectors. He was at Denham Capital Management, oil and gas, mining, and power focused private-equity fund.
Speaking on behalf of both appointees, Mrs. Ojekwe-Onyejeli expressed honour at being appointed, while looking “forward to continuing our work with the Board, Governing Council and employees in helping to lead the execution of NSIA’s strategy.” According to the statement, signed by Titilope Olubiyi, its communications adviser, the appointments follow the realighment in 2018 of NSIA’s strategy with a pivot toward domestic infrastructure, as reflected in the allocation of 50% of future contributions to infrastructure investments in such sectors as motorways, agriculture, healthcare, power and education. The NSIA established the Direct Investment Committee to review and oversight the investments, following which a Presidential Infrastructure Development Fund (PIDF) to fast-track the completion of five national infrastructure projects like the Abuja-Kano Roadway, second Niger Bridge, East-West Roadway, Lagos-Ibadan Expressway and the Mambilla Hydroelectric Power Plant.
NSIA is also stimulating investments in tertiary healthcare, such as development of the LUTH Cancer Treatment Centre in Lagos; advanced diagnostic centres in AKTH (Akwa Ibom State), Kano and Federal Medical Centre Umuahia.
It also co-sponsored the establishment of InfraCredit, a specialized financial guarantor that facilitates the financing of domestic infrastructure assets by domestic pension funds. The Authority remains committed to leading the development of strategic infrastructure initiatives in Nigeria.