Finally, Buhari appoints Yuguda as substantive SEC DG

President Muhammadu Buhari has appointed Mr Lamido Yuguda as the new substantive Director General of Nigeria’s the Securities and Exchange Commission (SEC).
This brings an end to the tenure of the acting director general of the Commission Ms Mary Uduk.
It also 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.

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).
The President is also seeking  Senate’s confirmation for SEC DG, othersAlso 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).”