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Arinola Ogbara-Banjoko has been appointed as as a Non-Executive Director on the Board of the Nigeria Commodity Exchange – NCX by President Bola Tinubu, representing Lagos State under the Federal Ministry of Industry, Trade and Investment.

The announcement of her appointment was made on Wednesday May 6 in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

Replacing Mrs. Bamidele Hussein, her appointment follows the recent inauguration of the NCX’s newly reconstituted Governing Board under the Federal Ministry of Industry, Trade and Investment. The President expects Ogbara-Banjoko to leverage her professional expertise to enhance the exchange’s operations and advance the national agenda of deepening commodity trading across the federation.

This leadership change is a strategic component of the Federal Government’s broader efforts to formalize and strengthen Nigeria’s commodities market. By restructuring the NCX board—which includes Chairman Dalhatu Abubakar and several other non-executive directors—the administration aims to improve price discovery and provide more reliable market access for both farmers and investors. These reforms are designed to create a more transparent and efficient marketplace that can effectively compete on a global scale.

The Nigeria Commodity Exchange serves as a vital institution for trading agricultural and extractive resources through a unified, structured platform. By fostering a more efficient trading environment, the NCX is positioned to unlock significant value within Nigeria’s resource sectors and stimulate overall economic growth.

The government views the exchange as a cornerstone for improving the commodities value chain, ensuring fair trade practices, and formalizing a sector critical to the nation’s economic diversification.