Tinubu Appoints Ogbara-Banjoko to Represent Lagos on NCX Board

President Bola Tinubu has appointed Mrs Arinola Ogbara-Banjoko as a Non-Executive Director on the Board of the Nigeria Commodity Exchange (NCX), representing Lagos State under the Federal Ministry of Industry, Trade and Investment.

The appointment was announced on Wednesday in a statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

Mrs Ogbara-Banjoko replaces Mrs Bamidele Hussein on the board, and her appointment comes barely a month after the Federal Government inaugurated the newly reconstituted Nigeria Commodity Exchange as part of efforts to strengthen the country’s commodities market.

What they are saying

The Presidency said Ogbara-Banjoko was appointed as a Non-Executive Director to represent Lagos State on the board of the Nigeria Commodity Exchange under the Federal Ministry of Industry, Trade and Investment.

• According to the statement, President Tinubu expects the new appointee to deploy her experience and professionalism to strengthen the operations of the exchange and support the Federal Government’s drive to deepen commodity trading in the country.

The President also expressed confidence that her appointment would help improve market access for farmers and investors while stimulating economic growth through a more efficient commodities market.

Get up to speed

The Federal Government had on April 9 inaugurated the Governing Board of the Nigeria Commodity Exchange following the earlier appointment of a new board by President Tinubu on April 2.

The President had approved the appointment of Dalhatu Abubakar as Chairman of the exchange alongside other non-executive directors, including:

• Najah Muhammed (non-executive director)
• Bamidele Hussein (non-executive director)
• Mezuo Nwuneli (non-executive director)
• Obi Igwe (non-executive director)
• Foluso Ayo-Olaiya (non-executive director)

What you should know

The Nigeria Commodity Exchange serves as a structured marketplace for trading agricultural commodities and extractive resources in the country.

• The exchange facilitates transparent and efficient trading by improving price discovery and expanding market access for producers, traders, and investors.
• It is also designed to create a more reliable and fair commodities marketplace while helping to unlock value across Nigeria’s agricultural and extractive sectors through a unified trading platform.

The NCX is regarded as a key institution in the Federal Government’s efforts to formalise commodity trading, improve market efficiency, and strengthen the overall commodities value chain in Nigeria.