Leadership (Abuja)

Nigeria: Suleiman Ndanusa Is New SEC Chairman

The Federal government has appointed new board members for the Securities and Exchange Commission (SEC) Dr Suleiman Abdu Ndanusa from the North-Central zone will serve as chairman.

The appointment was contained in a statement yesterday signed by Mr Paul C Nwabuikwu, Special Adviser to the coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala.

"In line with the provisions of section 5 of the Investment and Securities Act 2007, President Goodluck Jonathan has approved the appointment of the following members of the Board of the Securities and Exchange Commission (SEC)" the statement said.

The new board members named in the statement include Dr Suleiman Abdu Ndanusa, from North Central zone as Chairman;Mallam Mounir Haliru Gwarzo from North West as Executive Commissioner ; Mrs Sa'adatu Mohammed Bello from North Central as Executive Commissioner and Rt. Hon. Zakawanu Imhobobho Garuba from South South zone as Executive Commissioner.

Other board members include Barrister Adefunke Abiodun from South West as Non-Executive Commissioner and Mr Ugochukwu Ikemba from South East who is also Non-Executive Commissioner

Suleiman Abdu Ndanusa, who hails from Niger State was Director-general of the Securities and Exchange Commission until October 2004. Prior to that, he served as Chief Executive Officer and Managing Director of Spring Bank Plc until December 2008.

Ndanusa began his banking career in the Continental Merchant Bank of Nigeria (CMBN) as a 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. He has been a Non Executive Director of UAC of Nigeria Plc since December 9th, 2010.

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