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 and ratified by its shareholders at its Annual General Meeting on Tuesday.

The statement said Mr 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.

Mr Bello joined the board of Zenith Bank Plc on December 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 Mr Bello’s consistent demonstration of integrity, independence and sound judgment qualities led to his appointment to lead the board into its next chapter.

Mr 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 commerce minister from 1999 to 2002 under former President Olusegun Obasanjo, during which he led the development of Nigeria’s WTO-consistent trade policy.

He also oversaw the Corporate Affairs Commission online project of 2002, which modernised how businesses register and operate in the country.

From November 2003 to February 2014, he served as executive secretary and chief executive officer of the Nigerian Investments Promotion Commission.

He graduated from Ahmadu Bello University, Zaria, in 1978 and won the Shell Prize for the best project and thesis in the Faculty of Engineering.

Mr 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 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 South Africa from 2004 to 2008 and FrieslandCampina WAMCO Nigeria Plc as an independent non-executive director.

Mr Bello is a fellow of the Nigerian Society of Engineers, a registered member of the Council for the Regulation of Engineering in Nigeria, and a Fellow of the Academy of Natural Sciences and Engineering in Nigeria.

(NAN)