Buhari Appoints Umar-Sadiq As NSIA MD

President Muhammadu Buhari has approved the appointment of Aminu Umar-Sadiq as the new managing director/chief executive officer for the Nigeria Sovereign Investment Authority (NSIA).

Apart from the new MD, two new executive directors were also appointed into the management of NSIA, according to a statement that was issued by the media aide to the Minister of Finance, Budget and National Planning, Yunusa Abdullahi, on Monday night.

The appointment of the new MD followed the expiration of the tenure of the erstwhile MD, Mr. Uche Orji, whose tenure expired on September 30, 2022 after serving two five-year terms, following his appointment on October 2, 2012.

Those also appointed are 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, the statement said.

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 (UK).

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.

“They are all expected to help steer and transform the investment and infrastructure industry and propel the sector to a high pedestal,” Mr Abdullahi stated in the statement.