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DBN Reorganises Board to Achieve Core Mandate

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By Modupe Gbadeyanka

In order to achieve its core mandate of providing sustainable financing to Micro, Small, and Medium Enterprises (MSMEs) across the country, the Development Bank of Nigeria (DBN) has reorganised its board.

The nation’s primary wholesale development finance institution has added two experts to its board and they are Mrs Ijeoma Ozulumba and Mr Kyari Abba Kyari, who will serve as executive director and independent non-executive director respectively.

Chairman of the board, Mr Shehu Yahaya, explained that the appointments of the duo would further strengthen DBN’s vision, maintaining that the bank would continually uphold the highest standards of corporate governance, which have kept the Bank on a steady trajectory of progress.

“We are thrilled to have Ijeoma and Kyari join the Board and we look forward to them applying their knowledge, experience, and expertise in helping to deliver DBN’s core mandate as Nigeria’s primary wholesale development finance institution, providing sustainable financing to MSMEs across the nation,” Mr Yahaya, stated.

Also, the Managing Director of the DBN, Mr Tony Okpanachi, stated that “I am particularly excited by the depth and quality that both appointees are bringing to the Board and ultimately, the institution.

“Together, they bring a combined reservoir of knowledge and expertise in the financial services sector that will add immense value to the Bank and significantly contribute to the Bank’s development impact,” he added.

Mrs Ozulumba once served as Financial Controller at Continental Trust Bank Ltd (now part of UBA Plc) and MBC International Bank Ltd (now part of First Bank).

She was Chief Financial Officer at FinBank Plc and Basel Risk Consultant and Finance Manager at Bank of Montreal and Scotia Bank, both in Toronto, Canada.

Mrs Ozulumba also managed corporate budgeting and management reporting for Seplat Petroleum Development Company Plc, the largest independent E&P company in Nigeria.

A graduate of the University of Benin, Nigeria, and an alumnus of the Lagos Business School, Mrs Ozulumba is a fellow of the Institute of Chartered Accountants of Nigeria and a Certified Professional Accountant of Canada. She holds an MBA in International Business from Royal Holloway, University of London, and is a Project Management Professional. She was until her appointment the Chief Financial Officer at the Development Bank of Nigeria.

Mr Kyari, on his part, is the Managing Director/Co-Founder of Trans Sahara Investment Corporation, a Private Equity firm based in Lagos, Nigeria.

He had an outstanding career in Engineering and Technology serving as the former Managing Director/CEO at Central Securities Clearing System Plc, Lagos and ValuCard Nigeria (Unified Payments Ltd), Lagos, respectively. He has also served as an Executive Director in charge of Information Technology at FSB International Bank Plc.

Before joining FSB International Bank Plc, he served in various roles as Manufacturing Development Engineer, Marketing Program Manager, Senior IT Consultant, and as Manager in various sectors of the Hewlett Packard Corporation in the United States of America.

Mr Kyari Bukar was the former Chairman of the Board of Directors of the Nigerian Economic Summit Group (NESG) and currently serves on several other Boards.

He holds a bachelor’s degree in Physics from Ahmadu Bello University Zaria, Nigeria, and a master’s degree in Nuclear Engineering from Oregon State University, Corvallis, Oregon, USA.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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