President Muhammadu Buhari has appointed Mr Lamido Yuguda as the new substantive Director General of the Securities and Exchange Commission, SEC.
Mr.Yuguda is expected to take over from Acting DG, Mary Uduk.
Meanwhile, the President has written to the Senate, seeking the approval of his nomination of Mr. Yuguda as SEC DG in line with the requirements of the Investment and Securities Act (ISA).
Apart from Mr.Yuguda, President Buhari also nominated three nominees as full-time Commissioners for the Commission, including Reginald C. Karawusa, Ibrahim D. Boyi and Mr. Obisan T. Joseph.
The President’s request was contained in a letter read by the Senate President, Senator Ahmad Lawan, during plenary in Abuja.
Buhari’s letter reads in part: “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).”