President Bola Ahmed Tinubu on Monday, July 13, approved the appointment of Eyitope Kola-Oyeneyin and Muhammad Hadi Mutallab as board chairpersons of the Nigerian Investment Promotion Commission (NIPC) and Nigerian Export Processing Zones Authority (NEPZA), respectively.
The Federal Ministry of Industry, Trade and Investment (FMITI), in a statement shared via the presidency’s X handle, announced that the appointments were part of the administration’s efforts to strengthen institutional governance through experienced leadership.
According to the ministry, the appointments are “non-political” and aimed at enhancing the effectiveness of key institutions responsible for driving investment, industrialisation and Nigeria’s non-oil export agenda.
“The Federal Ministry of Industry, Trade and Investment (FMITI) is pleased to announce that his excellency, president Bola Ahmed Tinubu, GCFR, has approved the appointment of the board of chairpersons for Nigerian Investment Promotion Commission (NIPC) and Nigerian Export Processing Zones Authority (NEPZA),” the statement read.
The ministry said the constitution of the boards would provide strategic direction, improve institutional oversight, strengthen accountability and support the effective implementation of the agencies’ statutory mandates.
It added that the NEPZA Governing Board would provide oversight to advance the authority’s role in developing and promoting Nigeria’s export processing and special economic zones.
“The appointments underscore the federal government’s commitment to strengthening the governance of strategic institutions that play a critical role in driving Nigeria’s industrialisation, investment promotion, and non-oil export agenda,” FMITI said.
The ministry further said it looked forward to working with the newly appointed chairpersons to deepen reforms, improve institutional performance, attract more investments and accelerate inclusive economic growth in line with president Tinubu’s Renewed Hope Agenda.
Kola-Oyeneyin earned a Bachelor of Science in Industrial Engineering from the University of Central Florida, where she studied from 1996 to 2000.
She later obtained a Master of Science in Management Science and Engineering from Stanford University, completing the programme between September 2001 and June 2003.
Most recently, she has served as Managing Partner of Augmentum Advisory, a firm that helps organizations drive value creation through digital transformation, policy innovation, and large-scale execution.
Before launching the firm in 2024, she spent more than six years as a Partner at McKinsey & Company, where she co-led the firm’s Payments and FinTech Practice across Eastern Europe, the Middle East, and Africa (EEMA).
Her return to McKinsey followed an earlier five-year stint at the global consulting firm between 2004 and 2009.
Before rejoining McKinsey, Kola-Oyeneyin held several senior leadership positions at FirstBank Nigeria, where she spent nearly seven years overseeing some of the bank’s most strategic operations.
She served as Group Head of International Banking, leading FirstBank’s African subsidiaries and representative offices across South Africa, Abu Dhabi, and China.
Earlier roles included Chief Integration Officer for Africa, where she coordinated the integration of the bank’s acquisitions across six African countries, as well as Head of Corporate Transformation and Group Head of Banking Services, overseeing operations across more than 750 branches nationwide.
While at the Central Bank of Nigeria (CBN), she led the implementation of the Nigerian Banking Industry Shared Services Programme and played a pivotal role in designing the Cash-less Lagos initiative, one of Nigeria’s earliest digital payments programmes.
She also helped drive the Shared Agent Network Expansion Facilities (SANEF) programme, a landmark financial inclusion initiative that expanded agent banking across the country.
Beyond executive leadership, Kola-Oyeneyin has served on the boards of several companies, including FBNBank Senegal, FBNBank DRC, InSourcing Limited, Venia Consulting, and AutoGenius, Nigeria’s first digital insurance comparison platform.
She also co-founded The iLx Center, a Lagos-based learning and innovation hub focused on leadership development and experiential learning.
Recognized as one of Africa’s leading voices on digital financial services, Kola-Oyeneyin regularly speaks at international conferences and has co-authored research reports featured in publications including the Financial Times and The Economist.
She is also the author of UNLEASH, a book aimed at equipping young Africans with practical strategies for personal growth, leadership, and economic opportunity.
Mutallab is the founder of Dattaku Global Investment Ltd and Farm To You Ltd, where he oversees a diversified portfolio spanning offshore support vessels, real estate, port terminals, fintech, e-commerce and other investment interests.
According to his professional profile, he has more than a decade of experience across banking, finance, maritime and technology-related businesses, giving him exposure to multiple sectors of the Nigerian economy.
His business interests also extend into agriculture and technology through Farm To You Naija, an agritech venture designed to connect consumers directly with farmers and fresh produce using technology-enabled solutions.
Mutallab currently serves as a Non-Executive Director of Jaiz Bank Plc, a role he has held since April 2023.
In that capacity, he has been involved in supporting the bank’s fintech enhancement initiatives and the optimisation of its e-commerce capabilities, reflecting an interest in financial innovation and digital banking.
His profile also identifies him as a board member of Equatorial Marine Oil and Gas. In addition, he has served on the boards of companies operating across maritime, real estate, technology and investment-related sectors, providing strategic oversight and corporate governance.
Mutallab studied at Canadian University Dubai, where he earned both a Bachelor of Arts in Business Administration and Management and a Master of Business Administration (MBA).
He completed the MBA programme in May 2018 and graduated with Magna Cum Laude honours.
His profile also notes academic interests in economics, logistics and Islamic finance.
In addition, he obtained a Risk Management 2024 certification from Imperial Executive & Professional Education, issued in May 2024.
As Chairman of the NEPZA Board, Mutallab is expected to provide strategic oversight as the agency works to strengthen Nigeria’s special economic zones, attract investment, expand manufacturing and increase non-oil exports.
His background in investment management, banking, logistics, maritime operations, agriculture and technology is likely to be relevant as NEPZA seeks to deepen private-sector participation and accelerate export-oriented industrial development.
The appointments also coincide with recent efforts by Nigeria to deepen international economic cooperation, including the signing of a Double Taxation Agreement (DTA) with Hong Kong aimed at eliminating double taxation, preventing tax evasion, and encouraging cross-border trade and investment.