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Muhammadu Buhari

Buhari Makes Fresh Appointment

President Muhammadu Buhari on Tuesday appointed Mr Lamido Yuguda as the new substantive Director-General of Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC).

The appointment by Buhari puts an end to the uncertainties around the leadership of the Commission since the suspension of former Director-General, Mr Mounir Gwarzo by former Minister of Finance, Mrs Kemi Adeosun.

President Muhammadu Buhari
President Muhammadu Buhari

It also ends the tenure of Acting DG, Mary Uduk.In a letter just read at the Senate, Buhari requested the Senate to consider and approve the nomination of Mr Lamido Yuguda as SEC DG in line with the requirements of the Investment and Securities Act (ISA).

Also to be confirmed are three nominees as full-time Commissioners for the Commission, including Reginald C. Karawusa, Ibrahim D. Boyi and Mr Obisan T. Joseph.

The President’s request was contained in a letter read by the Senate President, Senator Ahmad Lawan, during plenary in Abuja. Buhari’s letter reads in part:

“Pursuant to Section 3 and 5(1) of the Investment and Securities Act 2007, I write to request for confirmation by the Senate, the appointment of the following four nominees as Director-General and Commissioners of the Securities and Exchange Commission (SEC).”

Copyright 2020 Naija Center News. All Rights reserved. This material, and other digital content on the website, may not be reproduced, published, broadcast, or rewritten or redistributed in whole or in part without prior express written permission from Naija Center.

Copyright 2020 Naija Center News. All Rights reserved. This material, and other digital content on the website, may not be reproduced, published, broadcast, or rewritten or redistributed in whole or in part without prior express written permission from Naija Center.

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