Key points
- President Bola Ahmed Tinubu has appointed Arinola Ogbara-Banjoko as a Non-Executive Director on the Board of the Nigeria Commodity Exchange.
- Ogbara-Banjoko will represent Lagos State on the board and replaces Bamidele Hussein.
- The Presidency says the appointment is aimed at strengthening commodity trading and supporting economic growth initiatives.
Main story
President Bola Ahmed Tinubu has approved the appointment of Arinola Ogbara-Banjoko as a Non-Executive Director representing Lagos State on the Board of the Nigeria Commodity Exchange under the Federal Ministry of Industry, Trade and Investment.
Ogbara-Banjoko replaces Bamidele Hussein on the board.
The appointment was disclosed in a statement issued by Bayo Onanuga, who noted that the President had earlier constituted the board of the Exchange in April, appointing Dalhatu Abubakar as chairman alongside other non-executive directors.
According to the statement, the President expects the new appointee to deploy her professional expertise and experience towards strengthening the operations of the commodity exchange and advancing the Federal Government’s economic reform agenda.
The issues
The appointment comes as the Federal Government intensifies efforts to reposition the commodity exchange market as a critical driver of economic diversification, agricultural development and improved market access for farmers and investors.
Stakeholders have repeatedly called for stronger institutional frameworks within the commodities sector to enhance transparency, improve price discovery mechanisms and increase participation in agricultural trading.
The Nigeria Commodity Exchange is expected to play a central role in facilitating structured commodity trading and boosting confidence in Nigeria’s agricultural value chain.
WHAT’S BEING SAID
According to the Presidency, Bola Ahmed Tinubu expects Ogbara-Banjoko to contribute significantly to deepening commodity trading and expanding opportunities for investors and farmers.
The administration also expressed confidence that the new board member would support efforts aimed at stimulating economic growth through a more efficient and competitive commodities market.
What’s next
The reconstituted board of the Nigeria Commodity Exchange is expected to continue implementing reforms targeted at improving operational efficiency, attracting investment and strengthening Nigeria’s commodity trading ecosystem.
Industry observers will also be watching how the board advances initiatives designed to improve market accessibility for smallholder farmers and enhance agricultural exports.
Bottom line
The appointment of Arinola Ogbara-Banjoko reflects the Federal Government’s broader strategy to strengthen Nigeria’s commodity exchange sector and leverage structured agricultural trading as a tool for economic growth and diversification.
