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Senate Okays Yuguda as SEC DG, Wants Enabling Climate for Investors

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Lamido Yuguda

By Modupe Gbadeyanka

The nomination of Mr Lamido Yuguda as the new Director-General of the Securities and Exchange Commission (SEC) has been confirmed by the Senate.

Mr Yuguda from Gombe State was selected for the position by President Muhammadu Buhari and he is to replace Ms Mary Uduk, who has occupied the post for years in an acting capacity.

At the plenary on Wednesday, the Senate, after receiving a report of its Committee on Capital Markets presented by its Chairman, Mr Ibikunle Amosun, said the new DG should ensure he attracts more investors to the market.

The Senate President, Mr Ahmad Lawan, who spoke after Mr Amosun said Mr Yuguda was capable of occupying the position, said tasked the apex capital market regulator to ensure efficiency in the discharge of its duties.

“The Security and Exchange Commission (SEC) must be efficient and effective in ensuring that we are able to attract and sustain not only domestic investment but foreign direct investment.

“People should bring their monies and feel safe with their investments here.

“This is essential to create the very enabling climate for investors to be attracted and retained here in the country,” the Senate President told Mr Yuguda.

Also confirmed alongside Mr Yuguda yesterday were three Executive Commissioners nominees; Mr Reginald Karawusa, Mr Ibrahim Boyi and Mr Temidayo Obisan.

The new SEC chief obtained a B.Sc. (Honours) degree in Accounting in 1983 from Ahmadu Bello University, Zaria and an M.Sc. in Money, Banking and Finance in 1991 from the University of Birmingham, United Kingdom.

He also holds a Certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland and a Certificate in Investment Performance Management from the CFA Institute, Charlottesville, Virginia, USA

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a holder of the CFA charter.

Mr Yuguda has attended leadership training programmes at leading business schools including Harvard, INSEAD, IMD, Saïd, Wharton, Haas, Kellogg, Chicago Booth and London.

He is expected to bring to the agency more than three decades of experience as a central banker, economist, and investment manager.

Mr Yuguda started his career with Central Bank of Nigeria (CBN) in 1984 and worked in several departments such as Foreign Operations, Banking Supervision and Reserve Management.

He also served in the Debt Conversion Committee Secretariat where he managed the Nigerian Debt Conversion Programme together with the pioneer staff in the secretariat.

In 1997, he joined the staff of the International Monetary Fund (IMF) in Washington DC, USA, on secondment as an economist in the Africa Department.

In this position, Mr Yuguda assessed economic policies, offered policy advice and managed balance of payment support programmes in IMF member countries.

In 2001, Mr Yuguda returned to the CBN to lead a team of staff to restructure and diversify the CBN’s growing foreign exchange reserve portfolio.

A new investment policy was adopted, new asset classes introduced, the CBN’s in-house fixed income trading and settlement capabilities were upgraded, while a reputable global custodian and securities lending agent as well as several international asset managers were selected.

The new SEC boss reached the pinnacle of his career at the CBN as Director of the Reserve Management Department from 2010 to 2016, where he inculcated a strong risk-aware investment culture and engendered a disciplined approach to investment evaluation. He retired voluntarily in 2016.

Mr Yuguda has served as a non-executive director on the boards of Africa Finance Corporation (AFC) and Premium Pension Limited. He has been a member of the Board of Directors of the SEC since June 2019 and is happily married with children.

Recall that President Buhari, in a letter to the Senate, sought the confirmation of the new DG “Pursuant to Section 3 and 5(1) of the Investment and Securities Act 2007.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Board Picks Malolan Sampath as Champion Breweries CEO After Adoga’s Exit

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Malolan Sampath

By Aduragbemi Omiyale

Mr Malolan Sampath has been appointed as the new chief executive of Champion Breweries Plc, effective September 1, 2026.

The appointment of a new chief executive was approved by the board of the brewery giant following the resignation of Mr Inalegwu Adoga.

To ensure continuity during the transition pending Mr Sampath’s assumption of office, the board has appointed Mr Rasheed Ademola Adebiyi, Executive Director of Finance, to take charge of the affairs of the organisation.

In a statement, the board said it remains committed to the highest standards of corporate governance and to delivering a seamless leadership transition and sustainable value to shareholders and other stakeholders.

The new Sheriff in town, expected to take over next quarter, was described as an accomplished executive with over 26 years of international leadership experience across the beverage, FMCG, manufacturing and agro-industrial sectors, having built and led businesses up to $500 million in scale.

His beverage and brewing experience includes serving as Managing Director of Unique Beverages in Angola and as Sales & Marketing Director for a PepsiCo bottling franchise, in addition to earlier brewing-sector experience.

Most recently, he held the dual role of Managing Director (NPK Joint Venture) and Chief Marketing Officer at Indorama Eleme Fertilisers in Nigeria and previously served as Chief Executive Officer of Global Industries Limited, a Wilmar International joint venture in Zambia.

He holds a Postgraduate Diploma in Management (MBA) from the Symbiosis Centre for Management & HRD, Pune, and a Bachelor of Business Administration from the University of Chennai.

The board expressed confidence that his expertise in manufacturing excellence, commercial execution and business transformation will support the company’s strategic objectives and long-term growth.

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Julius Berger Appoints Muiz Banire, Chinazo Okoye to Board

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muiz banire

By Aduragbemi Omiyale

Erudite legal practitioner, Mr Muiz Banire (SAN), has been appointed to the board of a construction giant, Julius Berger Nigeria Plc.

He joins the board of the organisation as a non-executive director, with effect from July 1, 2026, alongside Mrs Chinazo Okoye, who is an alternate director to Dr Ernest N. Azudialu-Obiejesi.

A statement from the company secretary, Ms Cecilia Ekanem Madueke, said Mrs Okoye is a graduate of the University of Michigan, Ann Arbor, Michigan, USA, and holds a Bachelor of Science in Mechanical Engineering, Master of Engineering Degree in Mechanical Engineering from the Cornell University, Ithaca, New York, USA, and a Master of Science Degree in Professional Accountancy from the University of London, London, UK.

She is a Chartered Certified Accountant (ACCA) of the Association of Chartered Certified Accountants. She has worked in various positions in various companies and is currently the Managing Director of Amaranta Trading Limited.

As for Mr Banire, he is a graduate of the University of Lagos and holds a Master of Laws Degree as well as a Doctor of Philosophy Degree from the same university.

He was called to the Nigerian Bar in 1989. He also holds a Master Certificate in the Arbitration Master Course from the Lagos Court of Arbitration Training Institute. He was admitted to the Inner Bar and conferred with the rank of Senior Advocate of Nigeria (SAN). He is a Member of the International Bar Association, the Institute of Chartered Secretaries and Administrators, an Associate Member of the Chartered Institute of Arbitrators, a Fellow of the Institute of Transport Administration of Nigeria, and the Nigerian Institute of Management. He is registered with the Law Society of England.

He had served in various capacities in the Legal profession, academic community and publicly. He was conferred with the National Honour of the Officer of the Order of the Niger (OON).

He is the Founder and Principal Partner, M. A. Banire & Associates, Member of the Board of Trustees, Fountain University, Osogbo, Osun State, and Pro-Chancellor of the University of Uyo, Akwa Ibom State.

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Access ARM Pensions Appoints Sa’adu Jijji as Chief Executive

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Sa’adu Jijji

By Adedapo Adesanya

Access Holdings Plc appointed Mr Sa’adu Jijji as the new chief executive of Access ARM Pensions Limited, its pension subsidiary.

The appointment has received all necessary regulatory approvals, including the board of Access ARM Pensions, reflecting the group’s continued focus on deepening leadership capacity across its subsidiaries and reinforcing its position in Nigeria’s pension industry.

Mr Jijji obtained a Master of Business Administration (MBA) from the Saïd Business School, University of Oxford and a bachelor’s degree in Business Administration.

He is a seasoned executive with over two decades of experience in the financial services sector, spanning pension fund administration, investment management, actuarial consulting, and corporate strategy.

Mr Jijji has held senior leadership roles at Premium Pension Limited, Alexander Forbes Consulting Actuaries Nigeria and Pension Alliance Limited (PAL Pensions), where he served as acting managing director.

Also, his appointment underscores Access Holdings’ commitment to delivering long-term value to retirement savings account holders and other stakeholders, while advancing its broader strategy of building globally competitive financial services businesses.

In 2024, Access Pensions Limited acquired a majority stake in ARM Pensions Managers Limited to create Nigeria’s second-largest Pension Fund Administrator by Assets Under Management.

At the time, the then-Group Chief Executive, Access Holdings, Mr Herbert Wigwe, said, “We are pleased to have reached this transformative milestone in our pension fund administration journey. The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry.”

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