by Isi Esene

The Federal government has announced the constitution of a new board of the Security and Exchange Commission (SEC).

The new board is headed by Suleiman Ndanusa.

Other members of the reconstituted board are Mounir Haliru Gwarzo, Sa’Adatu Mohammed Bello, Zakawanu Imhobobho Garuba as executive commissioners.

Others are barrister Adefunke Abiodun and Ugochukwu Ikemba as non-executive commissioners.

Ndanusa, who is from Niger State, was Director-general of the Securities and Exchange Commission (SEC) until October 2004. Prior to that, he served as chief executive officer and managing director of Spring Bank Plc until December 2008.

He reportedly began his banking career in the Continental Merchant Bank of Nigeria (CMBN) as a Deputy Manager of Credit & Marketing in 1987. He also served as Assistant General Manager, Head of Domestic Money Market Department of Spring Bank Plc. in July 1992.

At Spring Bank Plc, he served as Manager of Credit & Marketing in Charge of Construction, Real Estate, Packaging and Transportation Team in 1989 and Head of Department, Domestic Money Market & Treasury in 1991.

From 1993 to 1996, he served as Group Managing Director of Empire Group Ltd., a financial services holding company with five subsidiary companies covering finance & investment; stock broking; insurance broking; savings & loan and commodities trading. He has been a Non Executive Director of UAC of Nigeria Plc since December 9th, 2010.