The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) consisting of 15 Ministers of Finance from the Economic Community of West African States (ECOWAS) renewed the tenure of Bashir Mamman Ifo, President of the bank, for another four years term, starting from October 10, 2015, during the 13th ordinary session held in Bamako, Mali.
EBID is the financial arm of the Economic Community of West African States which includes 15 countries namely: Benin, Burkina Faso, and Cape Verde, la Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Mr. Ifo a veteran banker and administrator with more than thirty-one years of professional experience in the public and private sectors holds a Masters degree in Business Administration (MBA) in Finance and a Bachelors degree in Business Administration and Finance from Ahmadu Bello University, Zaria, Nigeria.
He joined the institution in 1995 and has held numerous high-ranking Management positions including that of Head of Financial Operations Division and Director of Treasury in the former ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund) which was changed into the ECOWAS Bank for Investment and Development (EBID) in order to expand the services of the Bank to the private sector. The transformation produced two subsidiaries for EBID which is, the former ECOWAS Regional Investment Fund (ERIF) and ECOWAS Regional Investment Bank (ERIB) where he served as Head of Finance and Administration and later, Acting Managing Director.