President Muhammadu Buhari, on Tuesday wrote the Senate to confirm his appointment of Alhaji Lamido Yuguda and two others as Director-General of Nigeria’s Securities & Exchange Commission (SEC), and full-time directors respectively.
Yuguda, a Chartered Accountant, former executive of the International Monetary Fund (IMF) who rose to the position of departmental director at the Central Bank of Nigeria (CBN), was until his appointment a non-executive member of the SEC’s board.
Subject to confirmation, will replace Ms. Mary Uduk, who has occupied the position in acting capacity for two years, following the suspension of Muazu Gwarzo, the DG, whose tenure expired this month.
Uduk is the second person to act as DG of the commission after Gwarzo’s suspension by then Finance Minister, Mrs. Kemi Adeosun, for breach of civil service code of conduct, among others.
In a request to the Senate read by the Senate President, Senator Ahmad Lawan, during plenary, the President also nominated for confirmation, Reginald C. karawusa, Ibrahim Dutsinma Boyi, and Obi Joseph, as full-time Commissioners.
While Karausa is Acting Executive Commissioner Legal and Enforcement in the outgoing dispensation, Boyi was chief executive of Peugeot Automobile Nigeria, Eterna Plc (2005-2010). Before then, he was an executive director at Oando Plc.
The letter reads: “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).”
Acting commissioners that are outgoing, following the latest appointments are Henry Rowlands and Isyaku Tilde, in charge of Corporate Services and Operations respectively.