President Muhammadu Buhari has approved the appointment of a new Managing Director (MD)/ Chief Executive Officer (CEO) and two new Executive Directors of Nigeria Sovereign Investment Authority (NSIA).
The development was confirmed by a statement issued by Yunusa Tanko Abdullahi, Special Adviser, Media and Communications to the Minister of Finance, Budget and National Planning.
The appointment of the new MD follows the expiration of the tenure of the pioneer MD, Mr. Uche Orji, whose tenure expired on the 30th of September, 2022 after serving two five-year terms.
Orji was appointed on 2nd October, 2012 as the pioneer MD of the Authority.
Those appointed comprise Aminu Umar-Sadiq, as the new MD/CEO, Mr. Kolawole Owodunni, Executive Director, and Mrs. Bisi Makoju , Executive Director, all of the NSIA.
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.
Aminu Umar-Sadiq, who is currently an Executive Director and Head of Infrastructure, has a Bachelor’s and Master’s degrees in Engineering Sciences from University of Oxford (Saint John’s College), Oxford, United Kingdom (UK).
He is Archbishop Tutu Leadership Fellow (ATLF) and also Mandela Washington Fellowship (MWF).
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 has worked on several projects including Presidential Fertiliser Initiative, an import substitution program for the delivery of one 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.