Nigerian Economic Society Confers Fellowship On Development Bank MD

The managing director/chief executive officer of Development Bank of Nigeria (DBN), Tony Okpanachi, has been conferred with the Fellowship of the Nigerian Economic Society (NES), one of the highest honours of the body since its establishment in 1957.

After receiving the award, Okpanachi described the recognition as a significant milestone in his professional journey, noting that only 74 people have been admitted into the fellowship since its inception.

“It is a privilege to be counted among such a select group,” he said. “As a trained economist and a development banker, this recognition aligns with my role at DBN, where we provide access to finance for micro, small and medium enterprises (MSMEs), the bedrock of the Nigerian economy. It is all tied to ensuring sustainable growth for Nigeria.”

He emphasised the strategic importance of the Society’s advisory role in shaping the Nigerian economy, saying the fellowship will further strengthen his contribution to national economic discourse.

On the theme of this year’s NES conference, Rethinking Africa’s Development, Okpanachi stressed the need for policies that promote inclusive rather than exclusive growth.

“Inclusive growth is when everyone is carried along,” he noted. “While Africa has consistently discussed GDP growth and other indices, inclusive growth remains a major challenge. For Nigeria, despite our targets, we still lag in several development indicators. We need coordinated efforts by policymakers, operators and stakeholders to put the country on a sustainable growth trajectory.”

The DBN chief explained that his experience bridging finance gaps for SMEs will shape his contributions to NES conversations.

“From theory to practice, that is what I bring to the table,” he said. “My background as an economist and as a practitioner in banking, especially development banking, gives me theoretical and practical perspectives. This dual experience helps in finding workable solutions for inclusive growth.”

Okpanachi reaffirmed DBN’s commitment to expanding financial inclusion by addressing access-to-finance challenges faced by MSMEs, which he described as critical players in achieving long-term national development.