InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution, backed by the Nigerian Sovereign Investment Authority (“NSIA”), Private Infrastructure Development Group companies GuarantCo and InfraCo Africa, KfW Development Bank, Africa Finance Corporation and African Development Bank, has announced the appointment of Vivien Shobo to its Board of Directors as an Independent Non-Executive Director, effective 29 January 2021.
Vivien Shobo is the Chief Executive Officer of FVS Advisory Partners. Before this, she was the Chief Executive Officer of Agusto & Co, Nigeria’s foremost Credit Rating Agency, a position she held for over a decade, until December 2019.
Vivien has extensive experience as well as macro knowledge of the industry. Agusto & Co successfully rated a diverse range of transactions under her leadership, including most of Nigeria’s leading domestic and international banks, notable corporates, subnational governments, and significant debt capital issues.
As part of her contribution to the Nigerian financial market development, Vivien previously served on several Securities and Exchange Commission’s Committees, including the Financial Literacy Master Plan Committee (a blueprint for the development of the Nigerian Capital Market), the Fixed Income Sub-Committee, and the Investor Confidence Sub-Committee.
Vivien was the Chairperson of the Association of Credit Rating Agencies of Nigeria from inception in 2010 to December 2019. In September 2020, Vivien Shobo was chosen by the African Banker Awards Committee, as the winner of the African Banker Icon Award, in recognition of her exemplary career and work at the helm of Agusto & Co, which was described as “truly pioneering and has helped transform capital markets in Nigeria and beyond”.
Vivien has a B.sc (Hons) from the University of Benin, Nigeria, and an MBA (Finance) from the Manchester Business School, UK. She is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and is a frequent speaker at domestic and global African capital market conferences.
Speaking on Vivien’s appointment, Uche Orji, Chairman, Board of Directors, InfraCredit said; “After a diligent search and rigorous process, on behalf of fellow directors, I am excited to welcome Vivien Shobo to the Board of InfraCredit as an Independent Non-Executive Director. Vivien is a renowned risk management and capital market professional, with over three decades hands-on experience in credit risk management, financial advisory and assurance. Her strong knowledge of the Nigerian markets and governance practices would be invaluable to InfraCredit as we grow the business and deepen our mission of unlocking long term capital for infrastructure development in Nigeria.”
Chinua Azubike, the Chief Executive of InfraCredit, noted; “Shobo comes with a rich experience in risk management and corporate governance, having worked successfully with large and mid-cap corporates across varying sectors. She brings on-board her independence and complementary skills, which should strengthen our Board’s oversight, as we diligently execute our strategies to create value for all stakeholders.”
“Given its prominent role in Nigeria’s infrastructural development, I am extremely delighted to join the InfraCredit’s Board and contribute my own quota to nation building”, said Vivien Shobo.
InfraCredit’s guarantees act as a catalyst to attract domestic credit from pension funds, insurance firms and other long-term investors into credit-worthy infrastructure projects, thereby deepening the Nigerian debt capital markets. InfraCredit operates on a commercial basis with a developmental role and benefits from private sector governance.