By PAMELA EBOH, Awka

Anambra State Government has congratulated Mr. Mustafa Chike-Obi on his appointment as the President of the Bank Directors Association of Nigeria (BDAN).

BDAN is a non-profit making organisation, limited by guarantee, which was set up to be an effective forum for representing the interests of bank directors in Nigeria.

A statement issued on Monday by the State Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, described Chike-Obi as a huge asset that Anambra State has bestowed on Nigeria, Africa and the banking world.

Chike-Obi, who took over from Mrs. Osaretin Demuren on August 23, 2021, is the Chairman of the Board of Directors of Fidelity Bank Plc.

The statement partly reads: “The whole world knows as much as you that you are expected to not only succeed in your new position but also surpass all previous records.

“As the son of Professor Chike Obi, Africa’s foremost mathematical scientist, you have to set new records of outstanding performance, and consequently lift the reputation of Anambra State and its people further.

“A redoubtable trailblazer, Chike-Obi had earlier offered distinguished service as the inaugural Chief Executive Officer (CEO) of the Asset Management Company of Nigeria (AMCON), a federal government institution established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.”

According to a recent statement by the Executive Secretary of BDAN, Mrs Adebukola Oranuga, Chike-Obi’s appointment was ratified by the Forum for Banks’ Chairmen organised by BDAN in June 2021.

The new BDAN chairman in his acceptance speech said that he would continue to pursue the mandate of the association by working with relevant stakeholders to ensure banks play a more active role in the nation’s economy.

His words: “As the chairman of this important association. I plan to represent more robustly the interest of the banking industry and to project the image of the banking industry as an essential partner with our customers and the Nigerian economy as a whole.

“These are no-doubt interesting times given the COVID-19 pandemic and resulting economic challenges. I look forward to partnering with shareholders as well as customers, regulators and all other players to contribute our quota to positioning the Nigerian economy for sustainable growth and recovery.”

Chike-Obi has well over 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms.

A graduate of the University of Lagos where he earned a First Class Degree in Mathematics and Stanford University, USA, where he took a Master’s in Business Administration (MBA), Chike-Obi started his Nigerian banking career with Chase Merchant Bank, serving as the Head of the Treasury Department from 1980 to 1982.

He has the record of creating the Treasury Department concept in Nigerian banking which is now a critical part of Nigeria’s banking industry. He later moved to Goldman Sachs where he functioned as co-head Trading, Mortgage-Backed Securities.

The new BDAN President also founded Madison Park Advisors, a financial service advisory and consulting firm specializing in hedge fund and private equity investment, located in New Jersey, U.S.A. He worked with Bear Stearns & Co as co-head Emerging Markets Trading from 1992 to 1995 and was also Managing Director of Shoreline Group from 2001 to 2006.

He was appointed to the Board of Fidelity Bank Plc in August 2020 and is currently the Executive Vice-Chairman at Alpha African Advisory where he provides overall leadership and has direct oversight over the capital raising division.