Buhari Appoints Umar-Sadiq as NSIA MD

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

Also, approved was the appointment of two new executive directors, Mr. Kolawole Owodunni, and Mrs. Bisi Makoju

The appointment of Umar-Sadiq followed the expiration of the tenure of Mr. Uche Orji, whose tenure expired on September 30, 2022, after serving two terms of five years each.

Orji was appointed on October 2, 2012.

Appointed alongside Aminu Umar-Sadiq, as Executive Directors were Mr. Kolawole Owodunni, 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.

A statement released by Yunusa Tanko Abdullahi, Special Adviser, Media and Communicat ions to the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed  said the new chief executive officer of NSIA is currently an Executive Director and Head of Infrastructure of the company.

He holds a Bachelor’s and Master’s degrees in Engineering Sciences from the University of Oxford (Saint John’s College), Oxford, United Kingdom (UK), and is an Archbishop Tutu Leadership Fellow (ATLF) as well as 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.

He also proceeded to infrastructure-focused private equity at Denham Capital Management, all in the United Kingdom.

He has worked on several projects including Presidential Fertiliser Initiative, an import substitution programme for the delivery of one million high-quality, lower cost to farmers at lower cost metric tons of fertiliser.

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, and has a vast experience in investment and infrastructure industry.

Mrs. Bisi Makoju is a financial expert with wide 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.

They new  all expected to help steer and transform the investment and infrastructure industry and propel the sector to a high pedestal, the statement said.