He established a development bank that offers more than just financial support – it delivers hope and opportunity.
The Visionary Behind Inclusive Financial Empowerment
When Dr. Tony Okpanachi took the helm in 2017 as the inaugural Managing Director and CEO of the Development Bank of Nigeria (DBN), few anticipated the rapid impact the institution would have on Nigeria’s small business landscape.
Nearly a decade on, DBN has emerged as a pivotal force driving inclusive economic progress, transforming countless lives by facilitating access to capital and entrepreneurial resources.
Central to this transformative journey is a leader who views banking not just as a commercial endeavor but as a social commitment – bridging policy frameworks with real-world possibilities.
“Our mission is to finance aspirations that shape the nation’s future.”
Strengthening the Pillars of Nigeria’s Economy
Under Dr. Okpanachi’s strategic guidance, DBN has extended over N1.1 trillion in loans to upwards of 700,000 micro, small, and medium enterprises (MSMEs) nationwide.
These figures represent more than financial transactions; they reflect empowering narratives:
Women and young entrepreneurs constitute 65% of the beneficiaries,
and the funding has supported or created approximately 1.2 million jobs across the country.
These are the stories of seamstresses in Enugu, agro-processors in Benue, tech startups in Abuja, and craftsmen in Jos who now thrive because their potential was recognized and nurtured.
Dr. Okpanachi’s core belief is straightforward: true national inclusion begins with financial inclusion. By uplifting MSMEs – the backbone of Nigeria’s economy – he has extended prosperity to regions previously overlooked by traditional banking.
Creating a Development Bank That Fosters Independence
At the outset, DBN was more an idea than an established entity.
Dr. Okpanachi instilled rigorous discipline, clear governance, and a focused vision: to position DBN as Africa’s benchmark for development finance.
He pioneered a lending framework powered by data analytics and technology, enhancing transparency, mitigating credit risks, and broadening access to underserved markets. Collaborating with over 65 financial partners, DBN now delivers affordable, long-term financing to small businesses in every Nigerian state.
This innovative approach has garnered global acclaim, establishing DBN as both a financier and an enabler – a bank that complements rather than competes with the existing financial ecosystem.
“Our goal is not to saturate the market but to deepen its reach.”
Driving Development Through Innovation
Innovation under Dr. Okpanachi’s leadership is a deliberate strategy, not just a trendy term.
He championed digital transformation projects that empower partner banks and microfinance institutions to process MSME loans swiftly, with real-time tracking of outcomes.
Additionally, he introduced DBN’s Environmental and Social Management System, ensuring that every funded initiative aligns with sustainability principles – from clean energy ventures to women-led startups and eco-friendly agriculture.
These efforts have attracted increased support from international bodies such as the World Bank, African Development Bank, and European Investment Bank, all praising DBN’s governance standards and operational excellence.
The Personal Touch in Financial Services
Beyond financial metrics, Dr. Okpanachi prioritizes human capital development.
Through the DBN Entrepreneurship Training Programme (ETP), over 9,500 entrepreneurs have gained essential skills in business management, corporate governance, and financial literacy.
Alumni of the ETP have successfully launched enterprises, secured funding, and generated employment, demonstrating that skill-building is as crucial as capital provision.
By combining finance with mentorship, DBN has evolved into both a financial institution and a learning hub – where entrepreneurship is nurtured and empowered.
A Legacy Rooted in Sustainable Progress
Under Dr. Okpanachi’s stewardship, DBN has become a foundational pillar in Nigeria’s MSME financing landscape – a model that harmonizes profitability with social impact.
The bank’s resilience amid economic downturns, global health crises, and fiscal challenges reflects his commitment to prudent management and long-term vision rather than short-lived gains.
Today, DBN’s success is measured not only in currency but in revitalized livelihoods, thriving businesses, and empowered communities.
“Development is tangible – it’s the difference between merely surviving and truly flourishing.”
A Career Defined by Expertise and Leadership
Dr. Tony Okpanachi serves as the Managing Director and CEO of Development Bank of Nigeria Plc. With over three decades of banking experience, his career spans leadership roles including Deputy Managing Director at Ecobank Nigeria Limited since 2013, Managing Director of Ecobank Kenya, and Cluster Managing Director for East Africa overseeing multiple countries. He has also held positions as Managing Director of Ecobank Malawi and Regional Coordinator for Lagos and South West at Ecobank Nigeria. His expertise covers Treasury Management, Retail Business Development, Corporate Finance, and Relationship Management.
Dr. Okpanachi holds a Ph.D. in Development Economics from Nile University, an MBA from Manchester Business School, an MSc in Economics from the University of Lagos, and a BSc in Economics from Ahmadu Bello University, Zaria. He has completed executive programs in Leadership, Corporate Governance, Credit, and Risk Management at prestigious institutions including Harvard Business School, Harvard Kennedy School, INSEAD, and IMD. He is a fellow of the Chartered Institute of Bankers (FCIB) and the Chartered Institute of Stockbrokers (FCIS), and serves as a non-executive director on the board of Impact Credit Guarantee Limited (ICGL), a DBN subsidiary.
