Keypoints
- President Bola Tinubu has appointed Mrs Arinola Ogbara-Banjoko to the board of the Nigeria Commodity Exchange (NCX).
- She will serve as a Non-Executive Director representing Lagos State on the board.
- The NCX operates under the supervision of the Federal Ministry of Industry, Trade and Investment.
- The appointment follows the initial constitution of the board in April 2026, headed by Alhaji Dalhatu Abubakar.
- The move is part of a federal strategy to enhance commodity trading and market access for the agricultural sector.
Main Story
President Bola Tinubu has approved the appointment of Mrs Arinola Ogbara-Banjoko as a Non-Executive Director on the board of the Nigeria Commodity Exchange (NCX).
The announcement was made in a statement by Presidential Spokesperson Bayo Onanuga on Thursday. Ogbara-Banjoko joins the board to represent Lagos State, taking over the position previously held by Mrs Bamidele Hussein.
This appointment completes further restructuring of the NCX board, which was initially constituted in April with Alhaji Dalhatu Abubakar as Chairman.
rThe President has directed the new appointee to utilize her professional experience to strengthen the operations of the Exchange.
The federal administration intends for this leadership team to drive efforts in deepening commodity trading, improving market access for farmers and investors, and stimulating overall economic growth.
The Issues
- The Nigeria Commodity Exchange requires consistent leadership to effectively bridge the gap between rural farmers and formal markets.
- Frequent board changes necessitate quick integration of new directors to maintain the momentum of market reforms.
- Strengthening the NCX is critical for the federal government’s broader goal of achieving food security and stabilizing commodity prices.
What’s Being Said
- The President urged the new appointee to “deploy her experience and professionalism to strengthen the operations of the Exchange.”
- According to the Presidency, the appointment “aligns with the Federal Government’s efforts to deepen commodity trading, improve market access for farmers and investors, and stimulate economic growth.”
- Spokesperson Bayo Onanuga confirmed that Ogbara-Banjoko replaces Mrs Bamidele Hussein on the board.
What’s Next
- Ogbara-Banjoko is expected to formally assume her duties following the presidential directive.
- The NCX board will continue its mandate of improving the infrastructure for commodity trading across Nigeria.
- Further policy updates from the Federal Ministry of Industry, Trade and Investment are anticipated regarding the integration of small-scale farmers into the NCX platform.
Bottom Line
President Tinubu has appointed Mrs Arinola Ogbara-Banjoko to the NCX board to represent Lagos State, focusing on professionalizing commodity trading and enhancing market access for the agricultural value chain.
