President Muhammadu Buhari has approved the appointment of Dr. Mahmoud Isa-Dutse as Executive Director on the Board of Islamic Development Bank (IsDB) in Jedda, Saudi Arabia.
This was disclosed in a statement by the media aide to the Presidency, Garba Shehu on Tuesday.
What Shehu said about Isa-Dutse
“Dr. Dutse is the immediate past Permanent Secretary of the Federal Ministry of Finance, Budget and National Planning. He has enormously interacted with development partners and international financial institutions during his tenure as Permanent Secretary.
“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).”
The Presidency added that the Executive Director on the Board of IsDB is a non-residential position which demands he travels to attend Board meetings quarterly or as determined by management to consider critical policy issues.
Dr. Dutse is taking over from Alhaji Shuaibu Gambo who was appointed on 1st July, 2011 and has held the position for about 10 years.
What you should know
- Nigeria purchased 7.65 % 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 Nigeria to a Permanent Seat on the Bank’s Executive Board of Directors.
- On Islamic Finance, Non-Interest Financial Institutions Association of Nigeria (NIFIAN), recently elected the Managing Director of Jaiz Bank Plc. Hassan Usman as its pioneer President.