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Jalo-Waziri Bows Out as CSCS CEO, Shehu Shantali Takes Over

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Shehu Shantali

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.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Jobs/Appointments

Tinubu Appoints Aliyu as New PTDF Scribe, Renews Abdulaziz as TCN MD

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Tinubu's Portrait

By Adedapo Adesanya

President Bola Tinubu has approved the appointment of Mr Shu’aibu Shehu Aliyu as the Executive Secretary of the Petroleum Technology Development Fund (PTDF).

Mr Aliyu, a professor, is to replace Mr Ahmed Galadima Aminu, who recently resigned to participate in the 2027 governorship election in Adamawa State.

In a statement by a spokesperson to the President, Mr Bayo Onanuga, on Thursday, it was disclosed that the appointment of Mr Sule Ahmed Abdulaziz as the chief executive of the Transmission Company of Nigeria (TCN) has been renewed for a second and final term.

These appointments are said to take effect immediately.

Professor Aliyu, the new PTDF helmsman, is a distinguished academic and seasoned administrator with extensive experience in research, education, and institutional leadership. His appointment underscores the President’s commitment to strengthening key institutions in the petroleum sector and advancing capacity development for Nigeria’s energy industry.

“The President expects him to leverage his wealth of experience to reposition the PTDF for greater impact in human capital development, innovation, and strategic support for the oil and gas sector in line with national priorities.

“President Tinubu renewed Engineer Abdulaziz’s appointment following a comprehensive assessment of his performance and leadership of the nation’s transmission network.

“Under his stewardship, TCN has recorded notable improvements in grid stability, transmission capacity expansion, and system modernisation, reinforcing its critical role in Nigeria’s electricity value chain.

“Engr. Abdulaziz brings over three decades of experience in the power sector and has also strengthened regional electricity integration through his leadership in the West African Power Pool (WAPP).

“President Tinubu urges both appointees to discharge their responsibilities with diligence, integrity, and a strong sense of national service,” the statement said.

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NNPC Grows Workforce by 12% to 6,247 in Q4 2025

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NNPC Crude Cargoes pricing

By Adedapo Adesanya

The Nigerian National Petroleum Company (NNPC) Limited saw its workforce rise by 12.2 per cent to 6,247 at the end of 2025 from 5,566 in the corresponding period of 2024, according to its latest employee data.

The state oil firm stated that its employees increased by 14.3 per cent from 5,495  recorded at the end of the first quarter of 2025 to 6,280 at the end of the second quarter of 2025.

Its staff strength, however, dropped by 0.11 per cent to 6,273 workers in the third quarter of 2025 and further shrank by 0.41 per cent to 6,247 in the last quarter of the year under review.

Giving a breakdown of its workforce in terms of gender, the NNPC disclosed that at the end of the fourth quarter, 5,044 employees, representing 80.7 per cent of its workforce, were males, while 1,203 employees, representing 19.3 per cent of its total workforce, were females.

Further breakdown revealed that Junior Staff 2 (JS 2) and Junior Staff 1 (JS1) cadres had one staff member and 175 staff members, respectively, at the end of the fourth quarter of 2025, as against one staff and 187 staff members, respectively, recorded in the third quarter of 2025.

In addition, the Senior Staff Seven (SS7) cadre had 31 employees, remaining the same as in the previous quarter, while the SS6 cadre dropped to 1,010 staff, from 1,012 staff recorded at the end of the third quarter of 2025.

The SS5, SS4, SS3, SS2 and SS1 staff cadre recorded 1,076 staff, 164 staff, 389 staff, 471 staff and 1,829 staff, respectively, in the quarter under review, compared with 1,076 staff, 164 staff, 391 staff, 478 staff and 1,835 staff, respectively, recorded in the third quarter of 2025.

Management Six (M6) cadre had 695 staff in the second quarter of 2025, compared with 699 staff in the same category in the previous quarter, while M5, M4, M3, M2 and M1 cadres had 237 staff, 117 staff, 47 staff, seven staff and one staff respectively, compared with 243 staff, 116 staff, 44 staff, seven staff and one staff in the corresponding cadres in the third quarter of 2025.

Further analysis of the NNPC workforce across different cadres showed that JS2 and JS1 accounted for 0.02 per cent and 2.75 per cent of its total workforce, respectively, while SS7, SS6, SS5, SS4, SS3, SS2 and SS1 cadres accounted for 0.50 per cent, 16.17 per cent, 17.22 per cent, 2.63 per cent, 6.23 per cent, 7.54 per cent and 29.28 per cent of the state oil company’s total workforce, respectively.

In addition, NNPC’s M6, M5, M4, M3, M2 and M1 cadres accounted for 11.13 per cent, 3.79 per cent, 1.87 per cent, 0.75 per cent, 0.11 per cent and 0.02 per cent, respectively.

In general, the NNPC Limited noted that it had 173 employees in its junior staff category; 4,970 employees in its senior staff category, and 1,104 employees in its management category.

It also reported that in its middle management cadre, it has 932 employees, accounting for 14.92 per cent of its total workforce, while the top management cadre had 172 employees, accounting for 2.75 per cent of its total workforce.

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Tinubu Names Ibrahim Ida Chairman of Corporate Affairs Commission

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corporate affairs commission cac

By Adedapo Adesanya

President Bola Tinubu has appointed Mr Ibrahim Ida as Chairman of the Corporate Affairs Commission (CAC).

Mr Ida holds an MSc in Banking and Finance from the University of Ibadan (1983) and an LLB from the University of Abuja (2003). Before being elected to the Senate in 2017 to represent Katsina Central, he served as the Commissioner of Finance for Katsina State and as the Permanent Secretary of the Federal Civil Service.

His appointment comes as the CAC faces legislative scrutiny over its books. The commission is part of a group of agencies that the House of Representatives Public Accounts Committee (PAC) recommended zero allocation for the year 2026, for allegedly failing to account for public funds appropriated to them.

The committee, at an investigative hearing held in February, accused CAC and some other ministries, departments and agencies (MDAs) of shunning invitations to respond to audit queries contained in the Auditor-General for the Federation’s annual reports for 2020, 2021 and 2022.

It asked the National Assembly not to continue to appropriate public funds to institutions that disregard accountability mechanisms.

President Tinubu also nominated seven people to fill vacant commissioner positions at the National Population Commission (NPC) as Federal Commissioners to represent their respective states in the National Population Commission. The nominees are;

1. Kolawole Oladipupo Alabi – Ekiti State

2. Nasiru Mu’azu – Zamfara State

3. Usman Abubakar Tuggar – Bauchi State

4. Dr Isaka Alada Yahaya – Kwara State

5. Prof. Sadiq Isah Radda – Katsina State

6. Suleiman Umar – Jigawa State

7. Hon. Chiso Abdullahi Dattijo – Sokoto State

The appointments, which complement other Federal Commissioners already sworn in, are subject to confirmation by the National Assembly.

The President also appointed Mr Yusuf Mohammed of Kano State as Chairman of the Federal Polytechnic, Kaltungo, and confirmed the appointment of Mr Bala Mohammed Bello as his Special Adviser on Political Economy.

Mr Bello, from Kebbi State, holds a Bachelor’s Degree in Accounting and an MBA from Ahmadu Bello University, Zaria. Before this appointment, he was a Deputy Governor at the Central Bank of Nigeria (CBN). He also served as Executive Director (Corporate Services) at the Nigerian Export-Import Bank (NEXIM) from 2017 to 2022.

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