President Bola Tinubu has approved the appointment of Arinola Ogbara‑Banjoko as a non‑executive director on the board of the Nigeria Commodity Exchange (NCX), the federal Ministry of Industry, Trade and Investment announced on Thursday. The appointment, confirmed in a statement issued by the president’s Special Adviser on Information and Strategy, Bayo Onanuga, designates Ogbara‑Banjoko as the representative for Lagos State on the NCX board, succeeding Bamidele Hussein, who previously held the Lagos State seat.
The NCX board was first constituted in April 2024 when President Tinubu appointed Dalhatu Abubakar as chairman and named a slate of non‑executive directors. The new member is expected to draw on her extensive experience and professional expertise to strengthen the exchange’s operations. In the statement, the presidency highlighted the strategic role of the NCX in the government’s broader agenda to expand commodity trading, improve market access for farmers and investors, and stimulate overall economic growth. President Tinubu urged Ogbara‑Banjoko to support these objectives and to contribute to deepening the country’s commodity markets.
The Nigeria Commodity Exchange, established in 1998, serves as a platform for trading agricultural and industrial commodities, providing price discovery, risk‑management tools, and market transparency. Enhancing its governance structure is seen as pivotal to attracting domestic and foreign investment in the agricultural value chain. Ogbara‑Banjoko’s appointment is part of the administration’s ongoing effort to reinforce institutional capacity across key economic sectors. Her tenure will commence immediately, with the board meeting later this month to outline the exchange’s strategic plan for the remainder of the year. The move underscores the government’s commitment to leveraging institutional reforms to boost agricultural productivity, facilitate trade, and drive sustainable economic development in Nigeria.
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