Buhari appoints Aminu Umar-Sadiq as MD/CEO of NSIA

Aminu Umar-Sadiq

President Muhammadu Buhari has approved the appointment of Aminu Umar-Sadiq as the Managing Director and Chief Executive Officer (MD/CEO) of the Nigeria Sovereign Investment Authority (NSIA).

A statement on Monday by the Special Adviser, Media & Communications to the Finance Minister, Yunusa Abdullahi, said Buhari also appointed Kolawole Owodunni, and Bisi Makoju, as executive directors.

“They are all expected to help steer and transform the investment and infrastructure industry and propel the sector to a high pedestal,” the statement added.

The appointment of the new MD/CEO follows the expiration of the tenure of Uche Orji, whose tenure expired on September 30, 2022, after serving two five-year terms following his appointment on October 2, 2012.

The NSIA (Establishment) Act 2011 grants power to the president to appoint individuals to the board of directors on the recommendations of the minister of finance, who shall consult with the NEC.

The Authority is an investment institution of the federation set up to manage funds in excess of budgeted hydrocarbon revenues.

It also plays a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure, and providing stabilization support in times of economic stress.

They are all expected to help steer and transform the investment and infrastructure industry and propel the sector to a high pedestal.

About the directors

Umar-Sadiq, is a former executive director and head of infrastructure at NSIA, with a Bachelor’s and Master’s degree in Engineering Sciences from the University of Oxford (Saint John’s College), Oxford, United Kingdom (UK).

According to his profile on the NSIA website, 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 served as the Executive Director responsible for all investment and portfolio management activities of the Nigeria Infrastructure Fund (NIF), NSIA’s multi-product, cross-sector domestic infrastructure fund.

He also led a team of over 20 investment professionals in originating, executing and managing direct investments and private equity investments across the Healthcare, Agriculture, Power, Transportation, Gas-based industries, and Technology sectors.

For Makoju, a financial expert with vast experience in risk management was appointed the Executive Director, Operations and Corporate Services. She is a certified professional accountant with 27 years’ experience.

Prior to her new role, she was the Financial Controller at NSIA, responsible for the Financial Management. She had previously worked as the Financial Manager in YF Petroleum, JV Accountant in Shell Nigeria Exploration and Production Company (SNEPCo), Head of Finance in Hewlett Packard Africa, and a Senior Analyst in Arthur Andersen.

She graduated with a First-Class Honours Degree in Accounting from the Obafemi Awolowo University, in 1995, as the Best Student in Financial Accounting and won the SWAN Prize for Best Graduating Female Student.

Owodunni on his part, is a professional in the financial services sector with an emphasis in investment management, risk management and treasury.

Before joining the NSIA, he was Head, Risk Management at Dunn Loren Merrifield. He had also worked as a Risk Manager at Credit Suisse, London; a member of the pioneer team that started the Hedge Fund Development and Management Group at Merrill Lynch (now Bank of America Merrill Lynch) in London.

He is a Goldman Sachs alumnus, who holds a Master’s degree in Chemical Engineering from Imperial College, London, and an MBA from INSEAD, France. He is also CFA Charter-holder.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Senate tasks Ministry of Environment on Bayelsa shoreline reclamation

Next Post

Minister vows to disburse Cabotage Fund to beneficiaries

Related Posts