Nigeria on Thursday
extended the implementation of the capital component of the 2016 budget
from March 31 to May 5, or till the passage of the 2017 budget,
whichever is earliest.
The Ministry of Finance said in a
statement that already, the Accountant-General of the Federation, Alhaji
Idris Ahmed, had issued a circular to all Ministries, Departments and
Agencies of government
to inform them of the extension.
The extension, it was learnt, was to enable the MDAs to utilise the about N1tn so far released for capital expenditure.
Adeosun had on Sunday said that the
components of the releases included aggregate sum of N870.05bn to the
MDAs as of the end of February 2017, and additional releases of
N65.39bn.
Others are Authority to Incur
Expenditure in February 2017 in the sum of N11.17bn and an additional
AIE worth N45.8bn as of March 13, 2017.
Meanwhile, the government has announced
the composition of the board and management of the newly licensed
Development Bank of Nigeria, with the appointment of Mr. Tony Okpanachi
as the managing director/chief executive officer.
Before his latest appointment, Okpanachi
was the Deputy Managing Director of Ecobank Nigeria Limited. Prior to
that, he was the Managing Director, Ecobank Kenya and Cluster Managing
Director for East Africa (comprising Kenya, Uganda, Tanzania, Burundi,
Rwanda, South Sudan and Ethiopia).
He was also at various times Managing
Director of Ecobank Malawi and Regional Coordinator for Lagos and South
West of Ecobank Nigeria.
A seasoned banker with over 26 years’
experience, 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.
He will be supported by the Chief Financial Officer, Mrs. Ijeoma Ozulumba; and Chief Risk Officer, Mr. Olu Adegbola.
A statement from the Director of
Information in the Ministry of Finance, Mr. Salisu Dambatta, said the
Board members included the Chairman, Dr. Shehu Yahaya (who was the
interim managing director of the DBN and a former Executive Director,
African Development Bank); Managing Director/Chief Executive, Nigeria
Sovereign Investment Authority, Uche Orji; and Mohammed Kalif of the
AfDB.
Independent directors of the DBN are the
immediate past Group Managing Director/CEO of United Bank for Africa
Plc, Mr. Philips Oduoza; President and CEO, African Finance Corporation,
Mr. Andrew Alli; Chairman, FBN Merchant Bank, Alhaji Bello Maccido;
Founder/Managing Director, JNC International Limited, Mrs. Clare
Omatseye; and Managing Director, CEO Excel Professional Service Limited,
Mr. Oladimeji Alo.
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