About 16 years after the idea of having a Regional Maritime Development Bank (RMDB), President Bola Tinubu has finally given approval for the take off the bank with the appointment of Adeniran Aderogba as its first President and Chief Executive Officer.
The bank was envisioned as a dedicated financial institution to provide long-term funding solutions for port infrastructure, fleet acquisition, shipping logistics and intermodal transport systems.
The project has been in the works since 2009, when member-states of the Maritime Organisation of West and Central Africa (MOWCA) first approved the bank’s establishment.
Announcing the development, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said it is a moment of great significance for Nigeria and the entire West and Central African sub-region.
Oyetola, in a statement by his Media and Communications Adviser, Bolaji Akinola, said: “After 16 years of waiting, the Regional Maritime Development Bank is finally taking off, thanks to the decisive leadership of President Bola Tinubu. His approval not only breaks a longstanding deadlock but also reaffirms Nigeria’s commitment to regional integration, maritime development, and economic cooperation.”
According to the minister, Aderogba brings over three decades of strategic experience in maritime administration, finance and investment, and “his appointment is a bold and competent choice that will steer the bank from conception to impact.”
The statement noted that Aderogba previously served as Executive Director, Finance and Administration at the Nigerian Maritime Administration and Safety Agency, and was acting director-general of the agency.
In the financial sector, he has held senior leadership roles at First Atlantic Bank Plc and MBC International Bank Ltd, where he oversaw investment banking and structured trade finance. He is also the founder of the financial advisory and investment services firm, CLG Securities Limited, among others.
According to Oyetola, Aderogba’s appointment and the operationalisation of the RMDB will catalyze development, boost trade and unlock funding for critical maritime infrastructure to drive transformative change across the region.
With Nigeria as the host-nation and a seasoned professional at the helm, the bank is now poised to become a powerful engine for regional growth, connectivity and prosperity, the minister added.
