By Adedapo Adesanya

President Bola Tinubu has written two letters to the Senate, seeking confirmation of 21 nominees for the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

In the first letter, President Tinubu nominated a former senator, Mr Magnus Abe, to serve as the NUPRC board chair. Mr Abe, who represented Rivers South East in the Senate for two terms, is a former board member of the Nigerian National Petroleum Company (NNPC) Limited and current chairman of the National Agency of the Great Green Wall.

Other nominees for the NUPRC board are Mr Paul Jezhi, a former Trade Union Congress chairman in Kaduna, and Mr Sunday Babalola, a former deputy director of the defunct Department of Petroleum Resources (DPR), which was abolished by the PIA in 2021. Both men will serve as non-executive commissioners.

President Tinubu also nominated executive commissioners to the board, according to a statement signed by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, on Monday.

These include Mr Muhammed Lamido, executive commissioner for finance; Mr Edu Inyang, executive commissioner for Exploration and Acreage; Mr Justin Ezeala, executive commissioner for economic regulation and strategic planning; and Mr Henry Oki, executive commissioner for Development and Production.

Others are Mr Indabawa Alka, executive commissioner for corporate services and administration; Mr Mahmood Tijani, executive commissioner for health, safety and environment; and Mrs Olayemi Adeboyejo, as secretary and legal adviser.

Former President Buhari appointed Mr Lamido and Mrs Adeboyejo in 2022, while President Tinubu appointed Mr Alka in 2023. However, Mr Inyang, Mr Ezeala, the former managing director of Nigerian Gas Marketing Limited, Mr Mahmood Tijani, Mr Babalola and Mr Jezhi are new appointees of President Tinubu.

In his second letter to the Senate, President Tinubu nominated Mr Adegbite Adeniji, a lawyer, as chairman of the NMDPRA board. Mr Adeniji has over 30 years of experience in energy and natural resources issues. He was a special technical adviser to the Minister of State for Petroleum on upstream and gas until 2018. He was a member of the Oil & Gas Policy team at the World Bank, which advised the Government of Nigeria on the reform and restructuring of the petroleum sector, including the development of the Strategic Gas Plan for Nigeria. He is currently the managing partner at ENR Advisory.

President Tinubu also nominated Mr Kenneth Kobani and Mr Asabe Ahmed as non-executive members. Mr Kobani was a minister of state for trade under former President Goodluck Jonathan and secretary to the government of Rivers State, under Mr Nyesom Wike, who is now the Minister for the Federal Capital Territory (FCT) Abuja.

Also nominated for confirmation are Mr Abiodun Adeniji, executive director of finance; Mr Francis Ogaree, executive director of hydrocarbon; Mr Oluwole Adama, executive director of midstream and Downstream gas infrastructure; and Mr Mustapha Lamorde, executive director of Corporate Services and Administration. President Tinubu appointed Mr Adama in 2024, while late President Buhari appointed Mr Lamorde and Mr Adeniji in 2021 and Mr Ogaree in 2022

Other members of the NMDPRA board, as proposed by President Tinubu, are Mr Yahaya Yinusa, executive director, distribution systems; Adeyemi Aminu, executive director, corporate services; Mrs Modie Ogechukwu, executive director, economic regulation and strategic planning; and Mr Bolawale Dawodu, as board secretary and legal adviser. Mr Dawodu is an industry player and was, at a time, the Financial Reporting Manager at Exxon Nigerian subsidiaries.

The President urged the Senate to approve the nominees expeditiously.

The requests followed the recent appointment and confirmation of chief executive officers for the two regulatory agencies with Mrs Oritsemeyiwa Eyesan becoming the chief executive officer (CEO) of the NUPRC and Mr Saidu Mohammed taking over the CEO helm at NMDPRA.

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.