President Muhammadu Buhari has nominated Lamido Yuguda as the substantive director-general of the Securities and Exchange Commission, SEC, the apex regulatory body of the country’s capital market.
Yuguda is to take over from Ms. Mary Uduk who has acted in that position since the vacancy created by the removal of Mounir Gwarzo.
The nomination was disclosed on the floor of the Senate on Tuesday which is to confirm him and others nominated as commissioners.
No word was given on the fate of Ms. Uduk in the letter proposing the nominations.
The letter reads: “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). Their CVs are attached herewith.
Others for confirmation are Mr. Lamido A. Yuguda, Director General; Reginald C. Karawusa, full-time Commissioner; Ibrahim D. Boyi, full-time Commissioner; and Mr. Obisan Joseph, full-time Commissioner.