Jobs/Appointments
Critics Question Aisha Ahmad’s Qualification for New CBN Job
By Dipo Olowookere
Since Thursday, October 5, 2017, when President Muhammadu Buhari announced Mrs Aishah Ahmad, as the new Deputy Governor of the Central Bank of Nigeria (CBN), there have been controversies trailing the young woman.
Mrs Ahmad was appointed to replace Mrs Serah Alade, who retired in March 2017 as the Deputy Governor of the CBN in charge of Economic Policy.
She is expected to assume duty as CBN deputy governor immediately after her confirmation by the Senate.
A report by Premium Times has said Mrs Ahmad was ‘controversially’ promoted to the position of an Executive Director of Diamond Bank Plc few hours to her announcement for the new CBN job.
But the lender, when contacted by the newspaper, gave a dodgy response to this issue.
Rather than make a categorical comment on when Mrs Ahmad was raised from her position as deputy general manager to executive director, Mr Mike Omeife, Head of Media Relations at the bank, merely said she had been executive director at the bank “for a while”.
He maintained that based on her wealth of experience, she is qualified to be appointed to the new position.
Until her appointment, Mrs Ahmad, a holder of Master of Science, M.Sc degree in Finance & Management from the Cranfield School of Management, United Kingdom (2006-2007) and a Master of Business Administration, MBA in Finance, University of Lagos (1999-2001), was the executive director (Retail Banking) at Diamond Bank Plc.
She is the chairperson, executive council of Women in Management, Business and Public Service, WIMBIZ, a Nigerian non-profit organization focused on issues affecting the interest of women professionals in business, particularly those promoting leadership development and capacity building to engender growth.
Since her appointment, there had been controversies, especially on social media, over her qualification for the CBN job.
SCANTY DETAILS
But in a chat with PREMIUM TIMES on Tuesday, Mr Omeife said the new CBN deputy governor had been an executive director at Diamond Bank “for a while”.
When asked of the specific date, he explained that he might not immediately have the details but he was confident she had been appointed executive director “for a while”.
Our sources maintained Mr Omeife “was economical with the truth”.
Checks by PREMIUM TIMES revealed that details of the bank’s annual report showed that as at December 2016, Mrs Ahmad held the position of Head, Consumer and Privilege Banking. The two executive directors listed in the report are Chizoma Okoli, Executive Director Business Development, and Chiugo Ndubisi, Executive Director/Chief Financial Officer.
Similarly, in its quarterly reports for March and June 2017, the names of the two aforementioned officials remained as executive directors.
Meanwhile, checks on the disclosure platform of the Nigerian Stock Exchange, NSE, for possible announcement of Mrs Ahmad’s elevation also yielded no result as no such disclosure was made throughout 2017.
When contacted on the telephone on Monday, the media officer of the NSE, Joseph Kadiri, could not immediately give response to the request.
He, however, told PREMIUM TIMES to forward the request to him via email and promised to send to appropriate quarters for reply. More than 24 hours after the request was sent with reminders, PREMIUM TIMES has not gotten any response.
But Mr Omeife, Tuesday, suggested that disclosure of Mrs Ahmad’s appointment as ED may not necessarily be made to the Nigerian bourse.
“From the financial services perspective, the CBN handles issues involving people from ED (position) up (wards),” he said.
When asked about the alleged double promotion the new CBN official reportedly enjoyed on the day she was appointed by President Muhammadu Buhari, Mr Omeife said he knew nothing about such development.
“I don’t know about that; all I am meant to understand is that the president appointed her as CBN deputy governor and sent her name to the Senate for approval. I don’t know about that (issue of double promotion).
“But I know she is eminently qualified to be the CBN deputy governor and I am expecting young Nigerians to applaud her,” he said, in reference to Mrs Ahmad’s academic and professional antecedents.
He, however, said further enquiries should be directed to the CBN.
But PREMIUM TIMES’ efforts to reach the CBN were futile. Isaac Okorafor, the apex bank’s spokesperson, did not answer or return calls to his known number. He also did not reply to a text message sent to him.
PRIVILEGE BANKING VS ECONOMIC POLICY
Many commentators alleged that her promotion to the position of executive director at Diamond Bank Plc was ‘fast-tracked’, a few hours to the announcement of her name by the Nigerian government.
Insiders at the bank told PREMIUM TIMES she was promoted executive director hours to the announcement of her appointment to the CBN position. There was a company-wide announcement to that effect, our sources said.
However, the CBN Act does not require that an appointee to that position must be an executive director of a bank, and it is not clear why she had to be controversially upgraded.
Section 8 sub-section 1 of the CBN Act 2007 states, among others, that: “The Governor and Deputy Governors “shall be persons of recognised financial experience and shall be appointed by the President subject to the confirmation of the Senate.”
Some commentators argue that Mrs Ahmad’s expertise may not be the kind of skills needed at the CBN. She is better known for overseeing privilege banking, securing accounts from high net-worth individuals, and providing private client services to wealthy customers. Her understanding of economic policies remained unclear.
Abdul Mahmud, an Abuja-based attorney, said of the appointment, “That she replaces Sarah Alade as Deputy Governor of CBN in charge of economic policy- monetary policy, financial market, etc, before her retirement, makes her catapult curious.
“With a background in accounting and professional training in consumer banking, you would ask: what was her appointor thinking? She is not a monetarist, there is nothing in her CV that shows that she is nuanced in monetary economics.
“Well, with another misfit, Emefiele, at the helm of CBN, who has been accused of doing wash wash -printing more naira notes- an Emefiele-esque Quantitative Easing (QE) -to address liquidity problem and creating the more serious problem of inflationary pressure- a process of policy catalyzation really- you will understand why the oracle has consistently argued that the government projection of the Economic and Recovery Growth Plan (ERGP) to reduce the inflation rate from 19% to 0% by 2020 is a pipe dream.
“Brace up for harder, perilous, and more difficult economic times.”
Source: Premium Times
By Adedapo Adesanya
The Central Securities Clearing System Plc (CSCS) has announced the appointment of Mr Shehu Yahaya Shantali as its new Chief Executive Officer (CEO), effective January 1, 2026, subject to regulatory approval.
Mr Shantali will succeed Mr Haruna Jalo-Waziri, who will step down after an eight-year tenure, where he contributed significantly to advancing Nigeria’s capital market infrastructure.
During his tenure, Mr Jalo-Waziri provided visionary and results-driven leadership that delivered sustained growth and far-reaching transformation across the organisation.
He led the successful execution of critical strategic initiatives, strengthened governance and operational effectiveness, and modernised the company’s systems and processes, positioning the organisation for long-term resilience and competitiveness.
His leadership significantly enhanced stakeholder confidence, deepened the organisation’s market relevance both domestically and internationally, and established a strong, future-ready foundation for continued success.
Commenting on the appointment, the Chairman of the CSCS board, Mr Temi Popoola, said: “On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the company recorded notable milestones and built an impressive legacy of operational excellence, innovation, and stakeholder confidence. We thank him sincerely for his dedication and impact.
“We are equally delighted to welcome Shehu Shantali as the new Chief Executive Officer of CSCS. He brings a wealth of experience, deep industry knowledge, and a strong strategic vision. The Board is confident that he will build on the solid foundation laid by his predecessor and lead the Company into its next phase of growth.”
Mr Shehu Yahaya Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingston Business School. He has over two decades of experience in accounting, finance, and financial services across Nigeria and the United Kingdom, with expertise spanning investment and asset management, financial advisory, and International Financial Reporting Standards (IFRS).
His career cuts across capital markets, investment banking, real estate, and financial services, and is underpinned by a decade at the Securities and Exchange Commission (SEC) Nigeria, where he championed the migration of publicly listed and significant public interest entities from Nigerian GAAP to IFRS and led the Commission’s transition to the contributory pension scheme in 2012.
Mr Shantali has built deep experience in financial inclusion, digital financial infrastructure, and the development of scalable, market-wide platforms that expand access to regulated financial services. As Managing Director and Chief Executive Officer of Apricot Investments Limited, he led the development of the MicroWorld platform, enabling the distribution of structured financial products, including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions.
Earlier in his career, his team developed Nigeria’s first contactless payment solution, and he played a pioneering role in POS-based agency banking and early mobile-money interoperability on the NIBSS NIP platform, supporting efficient payments, settlement, and system-wide connectivity.
Reflecting on his tenure, the outgoing CEO, Mr Jalo-Waziri, stated: “It has been an honour to serve as the Chief Executive Officer of CSCS. I am proud of what we have achieved together as a team and grateful for the support of the Board, management, regulators, and all our stakeholders. I am confident that CSCS is well-positioned for the future, and I wish my successor every success as he takes the company forward.
In his remarks, the incoming CEO, Mr Shantali, said: “I am deeply honoured by the confidence the Board has placed in me with this appointment. CSCS plays a critical role in Nigeria’s capital market ecosystem, and I look forward to working with the Board, management, staff, regulators, and market participants to strengthen the Company’s leadership position further, deliver value to stakeholders, and support the continued growth and stability of the capital market.”
In a statement, CSCS Plc commended Mr Jalo-Waziri for his contributions to enhancing the company’s operational capabilities and fostering market development during his tenure with the organisation.
The company reaffirmed its commitment to upholding the highest standards of corporate governance, operational excellence, and stakeholder engagement as it continues to support the Nigerian capital market.
By Adedapo Adesanya
President Bola Tinubu has approved the reconstitution of the board of the Nigerian Electricity Regulatory Commission (NERC), following the Senate’s confirmation of its members on December 16.
This was disclosed in a statement released by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.
He noted that the board is chaired by Mr Musiliu Olalekan Oseni, who started his service as a Commissioner in January 2017. He was subsequently appointed Vice Chairman of the commission.
His appointment as Chairman took effect from December 1, 2025, and shall subsist until the completion of his ten-year tenure at the commission, in accordance with the provisions of the Electricity Act, 2023.
Mr Yusuf Ali is now the Vice Chairman. He was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion of his first term.
The others are; Mr Nathan Rogers Shatti — Commissioner. He is serving a second term as commissioner. He was first appointed in January 2017.
Mr Dafe Akpeneye — Commissioner. He is serving a second term, having been first appointed as a Commissioner in January 2017.
Mrs Aisha Mahmud Kanti Bello — Commissioner. She is serving her second term, having been first appointed as a Commissioner in December 2020.
Mr Chidi Ike, PhD— Commissioner. He is serving his first term, having been first appointed as a Commissioner in February 2022.
Mr Fouad Animashaun, PhD — Commissioner. He is serving his first term, effective December 2025. He is an energy economist with extensive experience in the Nigerian power sector and most recently served as Executive Commissioner and Chief Executive Officer of the Lagos State Electricity Regulatory Commission.
President Tinubu charged the board members of NERC to deepen and consolidate the ongoing transformation of Nigeria’s power sector, in strict alignment with the letter and spirit of the Electricity Act, 2023.
By Adedapo Adesanya
The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has resigned alongside his counterpart at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe.
Based on the development, President Bola Tinubu has asked the Senate to confirm new chief executives for the two agencies.
The President’s request was contained in separate letters to the Senate on Wednesday, according to a statement signed by Mr Bayo Onanuga, the Special Adviser to the President on Information and Strategy, late on Wednesday.
Both officials were appointed in 2021 by former President Muhammadu Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).
To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Mrs Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Mr Saidu Aliyu Mohammed as CEO of NMDPRA.
Mr Ahmed’s resignation comes amid a high-profile conflict with businessman, Mr Aliko Dangote, who alleged that the NMDPRA chief and his family were living beyond their legitimate means, citing millions of Dollars allegedly spent on overseas schooling for his four children.
Mr Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.
Mr Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.
His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.
He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).
He played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.
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