Tinubu Appoints Ogbara-Banjoko to NCX Board

President Bola Tinubu has appointed Arinola Ogbara-Banjoko as a Non-Executive Director on the board of the , representing Lagos State under the Federal Ministry of Industry, Trade and Investment.

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

According to the statement, Ogbara-Banjoko replaces Bamidele Hussein on the board of the exchange.

The appointment comes weeks after the Federal Government inaugurated the newly reconstituted governing board of the Nigeria Commodity Exchange as part of efforts to strengthen the country’s commodities trading system and improve market efficiency.

The Presidency stated that the new appointee is expected to deploy her experience and professionalism to support the operations of the exchange and contribute to the Federal Government’s efforts to deepen commodity trading activities in Nigeria.

According to the statement, the administration believes the appointment will help improve market access for farmers, investors and commodity traders while promoting economic growth through a more efficient commodities market structure.

The Federal Government has continued to push reforms aimed at repositioning the Nigeria Commodity Exchange as a major platform for structured commodity trading, agricultural financing and price discovery.

Analysts said the exchange is expected to play a key role in improving transparency within agricultural commodity markets and supporting the development of value chains across the country.

The appointment also reflects ongoing efforts by the administration to strengthen institutional governance across strategic sectors of the economy.

The Federal Government had earlier inaugurated the governing board of the exchange following the approval of a new board by President Tinubu.

The board is chaired by Dalhatu Abubakar alongside other non-executive directors appointed to oversee the affairs of the exchange.

Other members of the board include Najah Muhammed, Mezuo Nwuneli, Obi Igwe and Foluso Ayo-Olaiya.

The Nigeria Commodity Exchange has been undergoing reforms aimed at modernising commodity trading systems, enhancing investor participation and improving access to structured markets for agricultural producers.

Industry stakeholders have repeatedly stressed the importance of a functional commodity exchange in reducing post-harvest losses, stabilising commodity prices and improving access to financing for farmers and agribusiness operators.

Experts noted that efficient commodity exchanges can also support export growth by improving quality standards, warehousing systems and traceability across agricultural supply chains.

The Federal Government has identified agriculture and commodities trading as critical sectors for economic diversification, job creation and foreign exchange earnings.

Recent reforms within the sector have focused on improving infrastructure, strengthening market regulation and encouraging private sector participation in commodity trading activities.

Market observers believe the restructuring of the exchange and appointment of new board members could support broader efforts to reposition Nigeria’s commodities market and attract greater domestic and foreign investment into the agricultural value chain.

The latest appointment further underscores the administration’s ongoing efforts to strengthen institutions considered critical to economic development and trade expansion in the country.