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Nigerian Capital Development Fund (NCDF Group) Institutional Governance for Sustainable Investment

NCDF Group operates under a governance framework designed to meet international institutional standards for investment management, development finance, and public-private partnership execution.
Our governance model ensures transparency, accountability, disciplined capital deployment, and long-term value creation for investors, partners, and communities.

Governance Philosophy

NCDF believes sustainable development outcomes are achieved through strong institutions, responsible leadership, and transparent decision-making.

Our governance framework is built on four core principles:

Our governance framework is built on four core principles: These principles guide all investment, operational, and partnership activities across the NCDF ecosystem.

Governance Structure

NCDF Group maintains a multi-layered governance system separating strategic oversight, investment decision-making, and operational execution

This structure ensures independent oversight while enabling efficient execution.

Board of Directors

The Board provides strategic direction, governance oversight, and fiduciary supervision of NCDF Group’s activities.

Key Responsibilities

Define long-term strategy and institutional vision
Approve investment policies and governance frameworks
Oversee risk management and compliance systems
Ensure alignment with regulatory and ESG standards
Safeguard stakeholder interests
The Board operates independently from day-to-day management functions to maintain objective oversight.

Mr. Nicholas John Connell

Ms. Otega Owumi

Otega Owumi is the Chief Financial Officer of the NCDF Group, where she leads the organisation’s financial strategy, governance framework, and capital management across its development finance and impact investment platform. She provides oversight for financial planning, capital structuring, risk management, and institutional financial governance supporting NCDF’s investment initiatives in infrastructure, healthcare, education, and enterprise development.
With more than two decades of professional experience across international banking, financial services, and healthcare systems leadership, Otega brings deep expertise in financial governance, organisational transformation, and strategic investment management.
Otega previously held leadership roles at American Express Europe, MetLife Europe, Oceanic Bank International, and United Bank for Africa, gaining extensive experience in financial systems, institutional governance, and operational transformation.
She holds an Executive MSc in Health Economics, Policy and Management from the London School of Economics, an MBA from Cranfield University, and executive training in Value-Based Health Care Delivery from Harvard Business School.

Dr. Charles I. Ademilua

Mr. Tajudeen Kareem

He is a multifaceted communication strategist with over thirty-five years of enriched experience in mass communication and media management. His expertise spans print and electronic media, corporate communication, and public policy analysis, having held senior and managerial roles before transitioning into public relations and policy analysis. He has played pivotal roles in significant projects such as the relocation of white farmers to Kwara State, the GSM revolution in Nigeria, President Umar Yar’adua’s Agriculture Policy, and the national risk communication strategy for Covid-19. With a B.A. in Mass Communication from the University of Nigeria, Nsukka, and affiliations with the Nigerian Institute of Management and Nigerian Institute of Public Relations, Tajudeen's extensive experience and professional dedication make him a leading figure in his field.

Prof. Olajumoke Familoni

Professor Olajumoke Familoni is the Chairman and Founder of ICLED. A graduate of Economics from the University of Lagos in the 70s obtained her Master’s and Ph.D. in the United States of America from TN and Arizona. Familoni also received a Fellow in the chartered Institute of Secretaries and Administrators, Ontario, Canada.In the United States, Familoni lectures across university institutions as a Professor of entrepreneurship and management. In Nigeria, she has been a guest speaker at The Lagos Business School, lecturer and Consultant at Covenant University and Lead City University, and a host of other Institutions. Author and writer: She authorises several leadership, Entrepreneurship, and strategy books. Her Entrepreneurial books just got accepted in Lagos State. In the USA, she was the founder and designer of the manufacturing apparel company that bears her name that sold to Fortune five hundred companies like JC Penney, Holiday Fashions, Darden Group of Restaurants in Orlando, Florida, Federal Express, united airlines, Delta Airlines, and many more.

Mrs Uta Nkposong

Mrs. Nkposong held several positions in Equatorial Trust Bank, at various times as Regional Business Head and Head, Public Sector (West), Branch Manager; Senior Relationship Officer; Relationship Manager; Trade Finance Manager; Operations Manager, and Marketing Officer. She was the Director of Investment and Private Equity for over five years at the Nigeria Agricultural and Co-operative Bank Ltd and the former Director of Liaison / Account at ALRAINE (NIG) LTD for over ten years. Mrs. Nkposong holds B.Sc in Economics from the University of Ibadan, where she later bagged an MBA in 1999. She is a member of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.

Mr. Cliff Southcombe

Board Committees

To strengthen governance effectiveness, specialised committees oversee critical functions:

Audit & Risk Committee

Investment & Strategy Committee

Governance & Nominations Committee

ESG & Impact Committee

Executive Leadership

The Executive Leadership Team is responsible for implementing strategy and managing NCDF’s integrated investment platform.

Executive Responsibilities

Execution of approved investment strategies
Partnership development and stakeholder engagement
Operational management across funds and platforms
Financial performance and impact delivery
Leadership operates under Board supervision and defined governance mandates.

Hareter Babatunde Oralusi

Hareter Babatunde Oralusi is a Nigerian development finance entrepreneur and institutional strategist dedicated to mobilising capital for sustainable economic development across Africa. He is the Founder and Chairman of the Nigerian Capital Development Fund (NCDF Group), a development investment platform focused on structuring and financing transformative projects in sectors such as infrastructure, renewable energy, healthcare, education, housing, and financial inclusion. Under his leadership, NCDF is building an integrated ecosystem designed to connect global institutional capital with bankable development opportunities in Nigeria and other emerging markets.
Mr. Oralusi’s professional career spans Nigeria, Europe, and the United States, where he has founded and supported multiple organisations focused on investment, social enterprise, and diaspora economic engagement. His work centres on creating institutions that bridge the gap between global investors and development opportunities in emerging economies. In addition to NCDF, he has been involved in the establishment and leadership of several initiatives promoting entrepreneurship, human capital development, and sustainable investment, including the London School of Social Enterprise and Sustainable Economics and Fatherland Holdings.
Mr. Oralusi is widely recognised for his advocacy of innovative financing models that combine private capital, public-private partnerships, and impact investment to support long-term economic transformation. His leadership continues to focus on building scalable institutions capable of unlocking investment opportunities that drive inclusive growth and sustainable development.

Investment Governance

Investment decisions across NCDF funds follow structured institutional processes.

Investment Oversight

No investment proceeds without formal committee approval aligned with fiduciary standards.

Risk Management & Compliance

NCDF maintains enterprise-wide risk management systems aligned with international investment practices. Key focus areas include:

Financial and operational risk management
Regulatory compliance across jurisdictions
Anti-money laundering (AML) standards
Know-Your-Customer (KYC) procedures
Environmental and social safeguards
Risk monitoring occurs continuously throughout the investment lifecycle.

ESG & Responsible Investment

Environmental, Social, and Governance (ESG) considerations are integrated into all investment decisions. NCDF aligns its approach with:

United Nations Sustainable Development Goals (SDGs)
Climate transition objectives
Responsible investment principles
Social inclusion and economic empowerment standards
Impact measurement and reporting form part of ongoing governance oversight.

Transparency & Reporting

NCDF is committed to maintaining transparent engagement with stakeholders. Reporting practices include:

No investment proceeds without formal committee approval aligned with fiduciary standards.

Partnership Governance

NCDF structures partnerships through clearly defined frameworks ensuring alignment between investors, governments, and operating partners.
Partnership governance includes:

Leadership Commitment

NCDF leadership is guided by a commitment to responsible stewardship of capital and sustainable economic transformation. Our leaders combine experience across:

This multidisciplinary expertise supports the execution of complex investment programmes.

Building Institutional Trust

Strong governance is fundamental to NCDF’s mission.
By combining global standards with local expertise, NCDF creates a trusted platform through which partners can confidently deploy capital into transformative opportunities.

Governance Enquiries

For governance or institutional partnership discussions:
📧 info@ncdfgroup.com
🌐 www.ncdfgroup.com