President Muhammadu Buhari has approved the appointment of Mahmoud Isa-Dutse as Executive Director on the Board of Islamic Development Bank (IsDB) in Jedda, Saudi Arabia.
A statement issued on Tuesday by President Buhari’s media aide, Garba Shehu, said Dr Dutse, who is the immediate past Permanent Secretary of the Federal Ministry of Finance, Budget and National Planning has “enormously” interacted with development partners and international financial institutions during his tenure as Permanent Secretary.
The statement said he is not only quite familiar with the modus operandi of multilateral institutions such as IsDB but also well respected in those institutions.
Shehu said Dr Dutse is taking over from Alhaji Shuaibu Gambo who has held the position for about 10 years, having been appointed on 1st July 2011.
He said the new Executive Director is expected to bring to the board new ideas, innovations and contribution and provide Nigeria with the opportunity for a voice to demand and access additional resources from the Bank.
The statement also read: “During his tenure as Permanent Secretary, he represented Nigeria on Boards of Governors/Directors of African Export-Import Bank, Organisation of the Petroleum Exporting Countries (OPEC) Fund for International Development, World Bank, African Development Bank, Islamic Development Bank, ECOWAS Bank for Investment, Central bank of Nigeria (CBN), Nigerian National Petroleum Corporation (NNPC), and Asset Management Corporation of Nigeria (AMCON), among others.
“The position of Executive Director on the Board of IsDB is non-residential (part-time).
“Executive Directors travel to attend Board meetings quarterly or as determined by management to consider critical policy issues.
“Before his appointment as Permanent Secretary, Dutse was the Acting Chairman and subsequently a Non-Executive Director of the Emerging African Infrastructure Fund (EAIF).
“He is a renowned banker with 23 years of vast experience in the financial sector, having graduated in Economics with an MBA and PhD in Business Administration.
“Nigeria purchased 7.65 per cent of the capital stock of the IsDB in 2010.
“The acquisition entitled the country to a single-country constituency as against the previous 11 country-constituency to which Nigeria previously belonged.
“It also entitles the country to a Permanent Seat on the Bank’s Executive Board of Directors.”