FG appoints Lamido Yuguda as new SEC Director-General

The Federal Government of Nigeria has appointed Mr Lamido Yuguda as the new Director-General of the Securities and Exchange Commission (SEC).

The appointment ends 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.

The appointment also ends the tenure of the Acting DG, Mary Uduk.

In a letter to the Senate on Tuesday, President  Buhari requested the upper chamber 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 Karawusa, Ibrahim Boyi and Mr. Obisan 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).”

 

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