Okey Enelamah, the Chief Executive Officer of African Capital Alliance, was sworn in by President Buhari as Nigeria’s new Minister for Industry, Trade and Investments in Abuja last week, and is resigning from the private equity firm which he co-founded some eighteen years ago.
African Capital Alliance’s new CEO is Cyril Odu, a partner who joined the firm in March 2012 as Head of the Energy team. Since then he has concluded a series of deals in the energy sector and is recognized as being a leading investment expert in the sector in Nigeria. He joined the firm following a successful career at Mobil, where he rose to be Vice Chairman of the Board of Mobil Producing Nigeria.
Top of Enelamah’s to do list is sorting out the crisis surrounding MTN Nigeria’s $5.2 billion fine, which has the potential to deter foreign investment in Nigeria.