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New Appointments -by Alexa Dalby.

Board Members of Nigeria's new SWF

Nigeria's new Sovereign Wealth Fund, the Nigerian Sovereign Investment Authority (NSIA), will commence operations this month with initial capital of $1bn. The Fund will be managed by the Nigerian Investment Authority (NSIA) and more details are yet to be announced.

Chairman Alhaji Mahey Rafindadi Rasheed is a board member of First Bank Nigeria.

Managing director Uche Orji, whose appointment is for five years, is a former managing director of JP Morgan. He is also a Co-Head of US Technology Sector Research at UBS Investment Bank.

Board members are:

Arnold Ekpe is the outgoing Group Chief Executive Officer of Ecobank Transnational Incorporated (ETI), a position he has held since 2005.

Jide ZeitlinC is a former Goldman Sachs investment banker and partner.

Bili AwosikaC is the Chairman Intermarc Consulting. Alhaji Hassan Usman is currently the Chief Executive Officer and Member of the Board of Directors of ASO Savings and Loans.

Olabisi Soyebo was called to the Nigerian Bar in 1988 and has since been in active legal practice with Abdullahi Ibrahim & Co. She is a Senior Advocate of Nigeria.

Stella Ojekwe-OnyejeliC was operational risk head at Barclays Bank and will serve as chief risk officer of the Fund.

Third woman director for Diamond Bank

Former Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mrs Ifueko Omoigui Okauru (above) has been appointed to the Board of Diamond Bank, making her the third woman on the bank's board.

Currently, as managing partner of Compliance Professionals, she supports individuals and organisations to ensure compliance with rules and regulations. She is also a part-time member of the United Nations Committee of Experts on International Cooperation in Tax Matters and a member of the Board of Trustees of DAGOMO Foundation Nigeria, a family-based NGO geared to community development.

From 2004 to 2012, Ifueko was the first female executive chairman of the FIRS and Chairman of the JTB comprising representatives of all taxing tiers of government in Nigeria. During her tenure, she spearheaded comprehensive tax reforms that led to the development of a national tax policy, modification of tax legislation and improvement in tax administration and itwon the Government Agency of the Year 2009.

Two women directors for UBA

Rose Ada Okwechime and Owanari Duke (right) have been appointed to the United Bank for Africa Group board, bringing the number of its women members to four.

Mrs Okwechime is the managing director of Abbey Building Society, the major mortgage institution, and has served as a public company director for over 20 years. Her banking career started with the Bank Of England where she worked in strategic departments from 1971 to 1980. She then joined African International Bank as Principal Manager. She was formerly a non-executive director on the Boards of Standard Trust Bank and United Bank for Africa.

She is a Fellow of the Chartered Institute of Bankers of Nigeria; the Chartered Institute of Bankers, London; the Institute of Brand Management; the Institute of Direct Marketing of Nigeria and member of the Institute of Directors of Nigeria. Her academic achievements include an MBA in Banking and Finance from Ogun State University.

Owanari Duke is the former First Lady of Cross River State of Nigeria and a legal practitioner, a specialist in mediation and dispute resolution, and philanthropist. She has been managing partner of the law firm Duke & BobManuel and executive chairman of Allied Merchants & Brokers.

She is also the country director of EMPRETEC Nigeria Foundation, an UNCTAD private sector support initiative to assist Nigerians reach higher levels of productivity and competitiveness among small and medium-scale enterprise. She graduated from Ahmadu Bello University, Zaria, with LLB Hons and a BL at Nigerian Law School, Lagos

Bank of Africa appoints Kenyan as board chairman

Bank of Africa Kenya has appointed diplomat Denis Awori to chair its board. Awori, who also chairs the board of Toyota Kenya, takes over from Paul Derreumaux, the founder of Bank of Africa Group, which owns 64.5% of the Kenyan unit.

Awori will become the first Kenyan to head the bank since its foundation in 2004 and the second after David Sikand of PE fund Aureos, whose East Africa Fund owns 15.5% of the bank, to sit on the eight-member board.

Dennis Awori began his career with Cooper Motor Corporation Holdings in 1978. In 1987, he joined the Motor Mart Group as Sales and Marketing Manager for its Toyota Kenya subsidiary. He was promoted to General Manager of The Yamaha Motors Kenya subsidiary, then Managing Director of Motor Mart Uganda and finally Managing Director of Lonrho Motors East Africa. In 2001, the company was bought by Toyota Tsucho Corporation, which retained Awori as Corporate Advisor and Executive Consultant, a post he held until he was appointed Kenyan Ambassador to Japan and Korea in 2004.

On his return to Kenya in 2009, he was appointed Chairman of Toyota East Africa Ltd and Executive Advisor to Toyota Tsusho Africa, covering Kenya, Uganda, Tanzania, Uganda, Rwanda, Burundi and Sudan, with responsibilities in both automotive and non-automotive businesses.

He has a BSc in Aeronautical Engineering from the University of Manchester in 1976 and completed a Business Leadership Programme at Ashridge Management College, UK, and a Management Development programme from the Emory Business School of Atlanta University.

DBSA appoints new CEO

Patrick Dlamini has been appointed chief Executive Officer of the Development Bank of Southern Africa. Before joining the DBSA, Dlamini held several senior management positions. He was chief executive officer at the Air Traffic and Navigation Service (ATNS), executive vice-president at SAA Cargo, and a business unit executive at Transnet. During his tenure at ATNS, he transformed into a world-class service provider in the aviation industry.

He holds a Bachelor of Commerce degree from the University of Durban Westville and an Advanced Specialist Financial Management Programme from the Natal Technicon. He has also completed an Executive Development Programme and an Advanced Executive Programme through the Wits Business School and the Kelloggs School of Management, respectively. He is about to complete his MBA degree through the University of Wales.

Unity Bank's new nonexecutive director

Nigeria's Unity Bank has appointed Semenitari Henry James as a non-executive Director. Semenitari has over 22 years banking experience in banks such as Zenith, Diamond, United Bank for Africa. He has also held senior management positions in UBA.

Semenitari holds a BSc in Chemical Engineering from the University of Lagos and an MBA from International Graduate School of Management, University of Navara, Barcelona, Spain. He is an alumnus of Harvard Business School, Advanced Management Programme in Boston and an alumnus of Cambridge Judge Business School, Advanced Leadership Programme Cambridge University, Cambridge, UK.C He is a Director of SWAP Technologies and Telecoms and also on the Board of Afromedia.

HFC Bank appoints seasoned custodian

HFC Bank (Ghana) has appointed Augustine KwakyeAgyekum as its new custody services advisor. He has been involved with the African securities industry since 1994 when he headed up regional securities services of the Standard Bank of South Africa (SBSA). In 2003, he joined Barclays Bank as the Deputy Head of Barclays Securities Admini stration (BSA) at in South Africa. He was instrumental in getting securities settlement and custody capabilities for BSA in CE[sup.3]te d'Ivoire and in setting up Barclays Bank's hub through Mauritius. Global Custodian magazine admitted him to the Securities Hall of Fame in 2009.

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Publication:African Banker
Geographic Code:6NIGR
Date:Sep 24, 2012
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