Uche Usim, Abuja
President Muhammadu Buhari has approved the appointment of two new Executive Directors for the Nigerian Sovereign Investment Authority (NSIA).
The appointees are Mrs Stella Ojekwe-Onyejeli, the Chief Operating Officer, who was reappointed as Executive Director for a second term. The second person is Mr Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed for the first time as Executive Director.
The appointments, according NSIA Chairman, Board of Directors, Mr Jide Zeitlin, follow the realignment in 2018 of NSIA’s strategy with a pivot towards domestic infrastructure, as reflected in the allocation of 50 per cent of future contributions to infrastructure investments.
In 2018, the NSIA Board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.
He revealed recent NSIA initiatives that reflect the 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, namely: Abuja-Kano Roadway, Second Niger Bridge, East-West Roadway, Lagos-Ibadan Expressway, and Mambilla Hydroelectric Power Plant.
“NSIA is also galvanizing 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 FMCU, Umuahia. The NSIA 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.
“These 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,” Zeitlin explained.
He continued, “both appointees are committed professionals who, along with other talented colleagues, have been instrumental in NSIA’s development.”
Mrs Ojekwe-Onyejeli was first appointed an Executive Director in October 2012 and served as the Chief Risk Officer until 2017 when her role was expanded to that of Chief Operating Officer. She has a wealth of experience spanning nearly three decades. 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. Prior to Barclays, Mrs. Ojekwe-Onyejeli held senior roles at Citibank. Mrs. Ojekwe-Onyejeli received a degree in Chemistry from the University of Lagos, and an MBA from Cranfield School of Management in the UK. She is a Fellow of the Institute of Chartered Accountants of Nigeria and also a qualified Chartered Financial and Tax Accountant. She is an Alumna of both the Oxford and Wharton Executive Management Programs and has attended many director-level programmes in leading institutions globally.
Mr 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. (The Sun)
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