DBN appoints five independent directors

Following its seventh annual general meeting of shareholders held in April 2024, Nigerian wholesale development finance institution, Development Bank of Nigeria (DBN) Plc., has announced the appointment of five new directors to its board to fill vacancies resulting from the departure of certain directors whose terms on the board had expired.

These appointments are part of the bank’s ongoing efforts to strengthen its leadership and corporate governance structure, while continuing its mission to promote inclusive growth and economic development.

The appointments disclosed in a press statement signed by the company’s Managing Director/CEO, Dr. Tony Okpanachi, reaffirmed DBN’s commitment to sustainability, excellence and innovation as the institution continues to evolve and shape the dynamic landscape of SME financing in Nigeria.

“Their diverse experience and leadership will be crucial as we continue to drive financial inclusion and support economic growth in Nigeria. At the same time, we express our deepest gratitude to our esteemed pioneer directors for their unwavering dedication and contributions. They have played a key role in DBN’s success story and we wish them all the best in their future endeavours,” he stated.

The recently appointed directors are: Ms Imoni Akpofure – Independent Non-Executive Director; Mr Urum Kalu (UK) Eke, Independent Non-Executive Director; Mr Mohammed Mustapga Bintube – Independent Non-Executive Director; Ms Juliet Anammah – Independent Non-Executive Director and Ms Folakemi Fatogbe – Independent Non-Executive Director.

The Directors who recently left the Board of Directors are: Ms Clare Omatseye (Independent Non-Executive Director); Mr Phillips Oduoza (Independent Non-Executive Director); Dr Oladimeji Alo (Independent Non-Executive Director); Mr Bello Maccido (Independent Non-Executive Director); Mr Andrew Alli (Independent Non-Executive Director) and Dr Shehu Yahaya (Chairman/Non-Executive Director).