Zenith Bank Plc has announced the appointment of Mustafa Bello as the chairman of its board of directors.
The bank in a statement on Wednesday said the appointment, which takes immediate effect, had been approved by the Central Bank of Nigeria (CBN) and ratified by its shareholders at its annual general meeting on Tuesday.
The statement said Bello’s appointment was strategic for continuity, stability and sustained effectiveness of the board, while reinforcing the bank’s ethical standards of corporate governance, regulatory compliance and strategic oversight.
Bello joined the board of Zenith Bank Plc on Dec. 29, 2017 and has served on several board committees.
He has extensive leadership experience at board and executive levels, a strong understanding of corporate governance principles and regulatory expectations and a proven track record in strategic oversight and organisational growth.
The bank added that Bello’s consistent demonstration of integrity, independence and sound judgement, qualities led to his appointment to lead the board into its next chapter.
Bello is an award-winning engineer, statesman and corporate leader whose career spans more than four decades across the public and private sectors of the Nigerian economy.
He served as Nigeria’s Minister of Commerce from 1999 to 2002 under former President Olusegun Obasanjo, where he led the development of Nigeria’s WTO-consistent Trade Policy.
He also oversaw the Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses register and operate in the country.
From Nov. 2003 to Feb. 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC).
He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 and won the Shell Prize for the best project and thesis in the Faculty of Engineering.
Bello began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.
He is currently the Chairman of Invest-in-Northern Nigeria Ltd, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy.
He had previously served on the boards of Eskom Holdings Ltd of the Republic of South Africa from 2004 to 2008 and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director.
Bello is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as Fellow of the Academy of Natural Sciences and Engineering in Nigeria
