Nigeria has finally constituted the board of its capital market regulator four years after the last board headed by Peter Obi was dissolved by President Mohamadu Buhari.
Lijadu, who hails from Ogun state, and a leading commercial lawyer with over thirty years’ experience, was also Executive Director of one of Nigeria’s top four banking institution, United Bank of Africa Plc.
Other members of the board are; Okokon Ekanem Udo (Representative of the Federal Ministry of Finance), Angela Adewumi Sere-Ejembi (Representative of the Central Bank of Nigeria), Faruk Ladi Rekiya (part-time Commissioner), Lamido Abubakar Yuguda (part-time Commissioner). Full-time members are Mary Joseph Uduk – Acting Director-General, Isyaku Bala Tilde – Ag. Executive Commissioner (Operations), Reginald Karawusa – Ag. Executive Commissioner (Legal and Enforcement), Henry Adekunle Rowlands – Ag. Executive Commissioner (Corporate Services).
President Buhari dissolved the previous board of the SEC on July 16, 2015, and set up an eight-man panel headed by a former Secretary to the Government of the Federation, Babachir Lawal, two months later, to reconstitute it.
The inauguration of the Board comes with much expectations as market operators and stakeholders in the sector have been calling for the reconstitution of the board to strengthen SEC’s operations.
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