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

This was disclosed via a statement issued on Monday night by the media aide to the Minister of Finance, Budget and National Planning, Yunusa Abdullahi.

Abdullahi stated that apart from the new MD, two new executive directors were also appointed into the NSIA.

He noted that the appointment of Umar-Sadiq followed the expiration of the tenure of the erstwhile MD, Uche Orji, whose tenure expired on September 30, 2022, after serving two five-year terms, following his appointment on October 2, 2012.

Those appointed as executive directors were Mr Kolawole Owodunni and Mrs Bisi Makoju.

“Section 16(3) of the NSIA establishment Act 2011 specifies that the Executive Nomination Committee (ENC) be constituted to begin the process of recruitment and selection process for the replacement of Mr Orji, the MD, and the executive directors,” the statement added.

Umar-Sadiq, who is currently an executive director and head of infrastructure at the NSIA, has Bachelor’s and Master’s degrees in Engineering Sciences from University of Oxford (Saint John’s College), Oxford, United Kingdom.

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He is Archbishop Tutu Leadership Fellow (ATLF) and also Mandela Washington Fellowship (MWF).

Umar-Sadiq commenced his professional career in Mergers and Acquisitions 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 presidential fertiliser initiative, an import substitution programme for the delivery of 1 million high quality, lower cost to farmers at lower cost metric tons of fertilizer.

He 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.

He has a vast experience in investment and infrastructure industry.

Also, Mrs Bisi Makoju is a financial expert with vast experience, in financial risk management, while Mr Kolawole Owodunni is a professional of 18 years standing in the financial services sector with emphasis in investment management, risk management, and treasury.

The Star