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DBN will be devoid of political interference, says Adeosun

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Kemi Adeosun

Barely two days into the official announcement of the board members of the newly licensed Development Bank of Nigeria (DBN), the Minister of Finance, Kemi Adeosun yesterday said government will not interfere in the operations and management of the bank.

In her words: “I ‘am here to assure you that the new DBN will operate in a free environment and run by technocrats without any interference from the government, this is one of the major reasons why it is now very different from the way it operated in the past. They have all the free hands to do their work.”

Adeosun, who was in company of the newly unveiled Managing Director of the bank, Anthony Okpanachi, gave the assurances yesterday in Abuja at a media briefing.

The Finance Ministry had on Thursday announced details of members of the board and management of the newly licensed bank.

The management team is led by Okpanachi, a banker and erstwhile Deputy Managing Director of Ecobank Nigeria Limited.

“Despite limited access to financing, Micro, Small and Medium Enterprises (MSMEs) contribute a significant 45% to the national economy.  If these institutions could have reliable access to working and investment capital at minimal cost, the multiplier effects on economic growth and job creation would be significant,” she added


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