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He built a development bank that does not just lend money — it lends hope. The Architect of Inclusive Finance When Dr Tony Okpanachi assumed office in 2017 as the pioneer Managing Director and Chief Executive Officer of the Development Bank of Nigeria (DBN), few imagined how quickly the institution would become a lifeline for thousands of small enterprises. Eight years later, DBN stands as one of Nigeria’s most trusted catalysts for inclusive growth, transforming lives through access to finance and entrepreneurship support. At the heart of this quiet revolution is a leader who sees banking not merely as a business, but as a social mission — a way to connect policy with possibility. “Our job is to finance dreams that build a nation.” Empowering the Backbone of the Economy Under Dr Okpanachi’s visionary leadership, DBN has disbursed over N1.1 trillion in loans to more than 700,000 micro, small, and medium enterprises (MSMEs) across Nigeria. What makes these numbers extraordinary is the human story they tell: 65 per cent of the beneficiaries are women and youth, and the funding has created or sustained about 1.2 million jobs nationwide. These are not abstract metrics; they are stories of tailors in Aba, rice processors in Kebbi, tech innovators in Lagos, and artisans in Kaduna who can now run sustainable businesses because someone believed in their potential. Dr Okpanachi’s guiding philosophy is simple: financial inclusion is national inclusion. By empowering MSMEs — the true backbone of Nigeria’s economy — he has helped spread prosperity to places that conventional banking once ignored. Building a Bank for Development, Not Dependency When he joined DBN, the institution was new — a vision more than a structure. Dr Okpanachi brought discipline, structure, and a clear mission: to make DBN the gold standard for development finance in Africa. He introduced a data-driven, technology-enabled lending model that enhances transparency, reduces credit risk, and expands access for underserved sectors. Through partnerships with over 65 participating financial institutions, DBN now channels affordable, long-tenor funding to small businesses in every state. This model has earned international respect, positioning DBN as both a financier and a teacher — a bank that strengthens the financial ecosystem rather than competing with it. “We are not here to crowd the market; we are here to deepen it.” Innovation as a Development Strategy Dr Okpanachi’s tenure has been marked by innovation — not as a buzzword but as a system. He spearheaded digital transformation initiatives that allow participating banks and micro-finance institutions to process MSME loans more efficiently, with real-time impact monitoring. He also launched DBN’s Environmental and Social Management System, ensuring every financed project aligns with sustainability goals — from renewable energy to women-led enterprises and green agriculture. In recognition of these strides, international partners including the World Bank, AFDB, and the European Investment Bank have expanded their collaboration with DBN, citing its governance integrity and operational excellence. The Human Side of Finance Beyond the numbers lies Dr Okpanachi’s commitment to building people, not just balance sheets. Under his watch, the DBN Entrepreneurship Training Programme (ETP) has equipped over 9,500 entrepreneurs with practical skills in business development, governance, and financial literacy. Graduates of the ETP have gone on to create jobs, access funding, and build resilient enterprises, proving that capacity development is as vital as capital access. Through this blend of finance and mentorship, DBN has become both a bank and a classroom — a place where enterprise meets empowerment. Legacy of Sustainable Growth Under Dr Okpanachi’s leadership, DBN has become a cornerstone of Nigeria’s MSME financing architecture — a model institution that aligns profitability with purpose. Its resilience through economic shocks, global pandemics, and fiscal uncertainty reflects his insistence on prudent governance and long-term strategy over short-term optics. Today, DBN’s balance sheet is not measured only in naira and kobo, but in livelihoods restored, businesses revived, and communities empowered. “Development is not an abstract word — it’s the difference between surviving and thriving.” A Journey of Discipline and Vision Dr. Tony Okpanachi is the Managing Director/Chief Executive Officer of Development Bank of Nigeria Plc. He is a seasoned banker with over 30 years’ experience. Before he was appointed Managing Director/CEO of the Bank, he was the Deputy Managing Director of Ecobank Nigeria Limited, a position he held since April 2013. Before that, he was the Managing Director, Ecobank Kenya and Cluster Managing Director for East Africa, Ecobank (comprising Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and Ethiopia). He was also at various times, Managing Director of Ecobank Malawi and Regional Coordinator for Lagos and South West, at Ecobank Nigeria. Earlier in his professional career, he managed various portfolios including Treasury Management, Retail Business Development, Corporate Finance, Corporate Services, Branch Management and Relationship Management, amongst others. Dr. Okpanachi seats on the Board of Impact Credit Guarantee Limited (ICGL), a subsidiary of DBN as a non-executive director. He holds a Doctorate degree (Ph.D.) in Development Economics from Nile University, Master’s in Business Administration (MBA) from the Manchester Business School UK, a Master of Science degree in Economics, from the University of Lagos and a Bachelor of Science degree in Economics, from the Ahmadu Bello University, Zaria, Nigeria. He has attended several Executive Management Development Programmes in Leadership, Corporate Governance, Credit and Risk-Management at leading institutions – Harvard Business School, Harvard Kennedy School, INSEAD, IMD etc. He is a fellow of both the Chartered Institute of Bankers (FCIB), and the Chartered Institute of Stockbrokers (FCIS).
