University of Abuja Honours CBN’s Ifeanyi Okafor with Doctorate in Project Management
By Ugo Aliogo
The grounds of the University of Abuja lit up with celebration on Friday as one of Nigeria’s most decorated project management and financial professionals, Ifeanyi Michael Okafor, received an Honourary Doctor of Science in Project Management for his outstanding contributions to the banking industry and his transformative career at the Central Bank of Nigeria (CBN).
For those who have followed his career, the honour represents not just a personal milestone but also a national recognition of the values he has brought to Nigeria’s financial system: discipline, innovation, foresight, and resilience. Okafor’s name resonates in Nigeria’s financial circles for his unique ability to merge the worlds of project management and economic policy. He has played a central role in shaping the strategic direction of the Central Bank of Nigeria, ensuring that its plans are not only technically sound but also aligned with the country’s broader economic objectives.
The University of Abuja’s citation described him as a “visionary strategist whose initiatives have reshaped the operational culture of the Central Bank and delivered measurable impact to Nigeria’s economy.” That description is borne out in his work. He has overseen multi-million dollar initiatives, over $50 million in Central Bank of Nigeria intervention initiatives. These programs include the Micro, Small, and Medium Enterprises Development Fund (MSMEDF), the Agri-business/SME Investment Scheme (AgSMEIS), the Nigeria Youth Investment Fund (NYIF), and the Tertiary Institutions Entrepreneurship Scheme (TIES), among others, driving significant socio-economic development across the nation. In a country where affordable housing remains a challenge, Okafor’s leadership helped bridge financial solutions with social impact. One of Okafor’s most celebrated accomplishments has been the Enterprise Strategy Management Solution, which he successfully introduced at the CBN. This system aligned project planning with budgetary processes and yielded 10 percent cost savings across operational departments. Beyond the numbers, the system transformed how the institution thinks about governance and execution. By building sustainable systems for long-term adaptation, Okafor positioned the Central Bank to remain resilient in the face of shifting market realities. He also spearheaded strategic campaigns that raised organizational awareness by 45 percent, fostering a new execution culture that emphasized accountability, adaptability, and innovation.
In adopting agile project management methodologies, he made the CBN more responsive to both domestic and international market conditions without sacrificing regulatory and procedural integrity. Few professionals can claim to have directly influenced Nigeria’s macroeconomic trajectory. Okafor stands among this select group. He was instrumental in drafting and implementing the CBN’s strategic plans. These contributions were not theoretical exercises. His data-driven policy recommendations had concrete effects, including stimulating a 30 percent increase in private sector investment through targeted regulatory adjustments and incentive structures. By ensuring that CBN strategies aligned with national economic objectives, he created continuity during times of political transition and market uncertainty. His work also extended to providing guidance to CBN management, government agencies, and external partners navigating Nigeria’s complex financial ecosystem. At a time when the country faced challenges ranging from inflationary pressures to global oil price fluctuations, Okafor’s deep understanding of macroeconomic forces and regulatory frameworks proved invaluable.
Financial stewardship has long defined Okafor’s career. He has managed infrastructure expansion budgets exceeding $200 million, maintaining strict compliance standards and introducing innovative accountability mechanisms in public finance management. The University of Abuja’s award committee highlighted his risk assessment methodologies, which provided national impact by mitigating threats during periods of economic volatility. His approach to risk has been described as “balanced” combining caution with strategic opportunity identification to strengthen institutional resilience while pursuing sustainable growth. Okafor’s decade at the CBN has been marked by a constant pursuit of efficiency, innovation, and alignment with Nigeria’s development agenda. His strategic campaigns, project management expertise, and financial oversight have left a lasting imprint not only on the Central Bank but also on Nigeria’s economy. Colleagues describe him as someone who “does not just see problems; he designs systems that make the problems easier to solve.” His influence can be felt in how the CBN approaches governance, execution, and risk management today. From multi-million dollar infrastructure projects to national policy frameworks, his hand has shaped initiatives that impact millions of Nigerians daily. Okafor expressed deep gratitude to the University of Abuja for the honour. “This recognition is not just about me; it reflects the collective commitment of the Central Bank of Nigeria and our partners to advancing sustainable financial systems that benefit the entire nation,” he said. In recognising him, the University underscored a vital truth: that individuals like Okafor, who bridge project management rigor with financial oversight, are crucial to Nigeria’s quest for economic stability and growth.
