President Tinubu Launches Regional Maritime Bank After 16-Year Delay, Appoints Adeniran Aderogba as Pioneer CEO
President Bola Ahmed Tinubu has officially approved the establishment of the Regional Maritime Development Bank (RMDB) and appointed Mr. Adeniran Aderogba as its inaugural President and CEO.
Announcing this milestone in Abuja on Thursday, the Minister of Marine and Blue Economy, Adegboyega Oyetola, described the move as a historic breakthrough, ending a 16-year delay since the bank’s initial approval in 2009 by the Maritime Organization of West and Central African States.
“This is a significant moment not just for Nigeria but for the entire West and Central African sub-region,” Oyetola said. “Thanks to President Tinubu’s decisive leadership, the RMDB is now taking off.”
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The RMDB aims to provide dedicated financial support for port infrastructure development, fleet acquisition, shipping logistics, and intermodal transport systems across the region. This aligns with Tinubu’s Renewed Hope Agenda, focusing on infrastructure growth and strengthening regional partnerships.
Mr. Adeniran Aderogba, with over 30 years of experience in maritime administration, finance, and investment, is tasked with steering the bank from its inception to impactful operation. His impressive background includes serving as Executive Director at the Nigerian Maritime Administration and Safety Agency (NIMASA) and holding senior banking roles in investment and trade finance.
A Fellow of the Institute of Chartered Accountants of Nigeria and a University of Lagos graduate, Aderogba also sits on the advisory board of the Commonwealth Enterprise and Investment Council.
The ministry highlighted that Aderogba’s appointment, communicated through the office of the Director of Maritime Safety and Security, Babatunde Bombata, marks a pivotal step toward catalyzing maritime development, boosting regional trade, and unlocking funding for critical infrastructure.
Oyetola praised the appointment and establishment of the RMDB as a clear demonstration of President Tinubu’s commitment to fulfilling long-standing promises and driving transformative progress across West and Central Africa.
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