THE Federal Government, through the Ministry of Finance, Saturday announced the appointment of Dr Suleyman Abdu Ndanusa as chairman of the Securities and Exchange Commission (SEC) and five — two Executive and three Non-Executive — commissioners.
A statement issued by Mr. Paul Nwabuikwu, the Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, said President Jonathan approved the appointments in line with the provisions of section 5 of the Investment and Securities Act, 2007.
The five commissioners, who were drawn from different geo-political zones of the country, include Mallam Mounir Haliru Gwarzo (North West), as Executive Commissioner; Mrs. Sa’adatu Mohammed Bello (North Central), as Executive Commissioner; and Rt. Hon. Zakawanu Imhobobho Garuba (South South), as Executive Commissioner.
Others are Adefunke Abiodun, a lawyer (South West), as Non-Executive Commissioner; and Mr. Ugochukwu Ikemba (South East), as Non-Executive Commissioner.
Until December 2008, Ndanusa, a graduate of Ahmadi Bello University, Zaria, and former Director-General of SEC, was Chief Executive Officer and Managing Director of defunct Spring Bank Plc, now Enterprise Bank. He began his banking career in the Continental Merchant Bank of Nigeria (CMBN) as Deputy Manager of Credit & Marketing in 1987. He served as Assistant General Manager, Head of Domestic Money Market Department of Spring Bank Plc. in July 1992. At Spring Bank Plc, he served as Manager of Credit & Marketing in Charge of Construction, Real Estate, Packaging and Transportation Team in 1989 and Head of Department, Domestic Money Market & Treasury in 1991. From 1993 to 1996, he served as Group Managing Director of Empire Group Ltd., a financial services holding company with five subsidiary companies covering finance & investment; stock broking; insurance broking; savings & loan and commodities trading. Ndanusa also served variously as Special Assistant to the Minister of Commerce and Lead Consultant of the Central Bank of Nigeria Bank Consolidation Monitoring Team. He has been a Non-Executive Director of UAC of Nigeria Plc since January 2010.
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