Ngozi Okonjo-Iweala, a two-time minister of finance for Nigeria, has been appointed as an Independent Director of Standard Chartered Bank.
Her new role comes into effect from November 1, 2017, and she is expected to earn GBP130,000 annually as a director of the Bank.
“Ngozi spent 25 years working at the World Bank in various positions. After leaving in 2003, she served as the Finance Minister of Nigeria from 2003 to 2006. She returned to the World Bank in 2007, serving as a Managing Director until 2011, when she was appointed to the role of Minister of Finance and Coordinating Minister for the Economy in the Nigerian government, a position she held until 2015,” read a press release made available to the media by Standard Chartered Bank.
Commenting on the appointment, the Group Chairman of the bank, José Viñals said: “Ngozi is a globally recognised African and international figure. She has significant geopolitical, economic, risk and development experience and expertise at a national governmental level and in international organisations, which will provide significant insight and value to the Board. She also has deep knowledge of Africa as well as emerging and developing markets. I am delighted to welcome her to Standard Chartered.”