DBN Repositions, Appoints Five New Independent Directors

Following its 7th Annual General Meeting held in April 2024, Nigeria’s wholesale development finance institution, Development Bank of Nigeria (DBN) Plc, has announced the appointment of five new directors to its board to fill the vacancies created by the exit of some directors whose tenures on the board ended.

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

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

“Their diverse expertise and leadership will be instrumental as we continue to drive financial inclusion and support economic growth in Nigeria. At the same time, we extend our deepest gratitude to our esteemed pioneer directors for their unwavering dedication and contribution. They have been pivotal to DBN’s success story, and we wish them the very best in their future endeavours,” Okpanachi stated.

The appointed directors are: Ms. Imoni Akpofure; Mr. Urum Kalu Eke (MFR); Mr. Mohammed Mustapha Bintube; Mrs. Juliet Anammah; and Ms. Folakemi Fatogbe.

Akpofure, an Independent Non-Executive Director, brings her immense experience in finance and sustainability spanning over 30 years to the DBN Board.

Eke was the Group Managing Director of FBN Holdings Plc and served as a Non-

Executive Director on the Boards of First Bank of Nigeria Limited, FBNQuest

Merchant Bank Limited, FirstBank London, and First Pensions Custodian Limited.

Bintube, Independent Non-Executive Director, is a consummate banker with over 30 years experience, most of which were spent in leadership positions.

Anammah, an Independent Non-Executive Director, is a senior executive with expertise in consumer behaviour, strategic planning, and global trends analysis.