Lagos — Lagos State Governor, Asiwaju Bola Ahmed Tinubu, has appointed former Managing Director of NAL Bank Plc, Mr Ben Akabueze, as the new commissioner of Budget and Economic Planning. He hails from Anambra State.

Akabueze succeeds Dr Adebayo Adewusi, who resigned to pursue his interests in politics.

A First Class Honours Bachelor of Science Degree in Accounting of the University of Lagos, will combine the portfolio with managing the state's Public Private Partnership (PPP) system and the first ever social security scheme for unemployed graduates.

While the PPP works with global development institutions, the Social Security System is a pro-active programme to integrate the nation's graduates into the state's welfare system.

An alumnus of the Lagos Business School, Akabueze , 48, schooled in St Joseph's College, Sasse-Buea, Cameroon, for his Ordinary Level and Dennis Memorial Grammar School, Onitsha for his Advanced Level.

A Fellow of the Institute of Chartered Accountants of Nigeria, he served at the Nigerian Television Authority, Maiduguri, for his National Youth Service Corps (NYSC) as an Accounting Supervisor between 1982 and 1983, before his professional career as an Audit Assistant at Price Waterhoouse in 1988.

His rapid rise through the ranks in the financial industry exposed him to a lot of management culture and challenges.

At various times between 1988 and 1997, he worked as the Head, World Corporations Group of Nigeria International Bank (Citibank), General Manager (Corporate Banking Division, Investment Banking Division, Controls and Corporate Services) of the Fidelity Union Merchant Bank Limited.

Appointed the pioneer Head of the Consumer Banking division of the United Bank for Africa in 1997, Akabueze positioned the unit to become the most profitable part of the bank towards the end of 1998. As a result of achieved growth and future prospects, it was split into three groups; each headed by a Deputy General Manager.

He retired from Sterling bank August last year, to pursue his business interest in BIA Consulting Ltd (a Business & Financial Service Advisory firm).

He is married and lives in Lagos.

He later joined the NAL Bank as the in 1999 as the Executive Director supervising the bank's investment, corporate banking as well as private banking.

In June 2001, he became the Managing Director/Chief Executive of the bank and was able to handle the Offer for sale of the 40 percent government equity in the bank as well as the transition of the financial institution from a wholesale Merchant Banking institution to a Full-service Universal Bank. He also took the bank into the merger deal that led to the creation of Sterling Bank where he emerged as the Executive Director, Corporate Banking.