The federal government has appointed Tony Okpanachi as the managing director and chief executive officer of the newly licensed Development Bank of Nigeria, DBN.
Until his appointment, Okpanachi was the deputy managing director of Ecobank Nigeria Limited, after a spell as the managing director, Ecobank Kenya and cluster managing director for East Africa (comprising Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and Ethiopia).
He was at various times managing director of Ecobank Malawi and regional coordinator for Lagos and South West of Ecobank Nigeria.
Okpanachi holds a Master degree in Business Administration from the Manchester Business School, United Kingdom, and a Master of Science degree in Economics from the University of Lagos.
Okpsnachi will be supported by Ijeoma Ozulumba as chief Financial Officer; and Olu Adegbola, chief Risk Officer.
Salisu Dambatta, director of Information, ministry of Finance, said the Board members included Shehu Yahaya (who was the interim managing director of the DBN and a former Executive Director, African Development Bank) as chairman; Uche Orji, managing director/chief executive, Nigeria Sovereign Investment Authority and Mohammed  Kalif of the AfDB.
Independent directors of the DBN are Philips Oduoza, the immediate past group managing director/CEO of United Bank for Africa Plc; Andrew Alli, President and CEO, African Finance Corporation, Bello Maccido, chairman, FBN Merchant Bank; Clare Omatseye, founder/managing director, JNC International Limited and Oladimeji Alo, managing director, CEO Excel Professional Service Limited.