The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced the appointment of a Nigerian, Mr. Adeniran Aderogba, as the first President and Chief Executive Officer of the Regional Maritime Development Bank (RMDB), as the institution finally takes off after 16-year delay.

Oyetola, who stated this in a statement by his Media and Communications Adviser, Dr. Bolaji Akinola, yesterday, said President Bola Tinubu, has given approval for Nigeria’s hosting of the long-awaited Regional Maritime Development Bank.

This approval marks the takeoff of a project that has been in the works since 2009, when member states of the Maritime Organisation of West and Central Africa (MOWCA) first approved the establishment of the bank.

“This is a moment of great significance for Nigeria and the entire West and Central African sub-region. 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,” Oyetola stated.

The Regional Maritime Development Bank is envisioned as a dedicated financial institution that will provide long-term funding solutions for port infrastructure, fleet acquisition, shipping logistics, and intermodal transport systems.

Oyetola said the bank is a cornerstone initiative aligned with Tinubu’s Renewed Hope Agenda, which prioritises infrastructure development, inclusive economic growth, and regional partnership.

The Minister said Aderogba brings over three decades of strategic experience in maritime administration, finance, and investment. “His appointment is a bold and competent choice that will steer the bank from conception to impact,” he said.

Aderogba’s extensive career spans the public and private sectors. He previously served as Executive Director, Finance and Administration at the Nigerian Maritime Administration and Safety Agency (NIMASA), and was later appointed Acting Director General of the agency.

In the financial sector, he 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 CLG Securities Limited, a financial advisory and investment services firm. Over his career, he has led transactions exceeding $5 billion across diverse sectors, including landmark deals recognized internationally.

Aderogba also began his career with KPMG, where he gained foundational experience in auditing and financial consulting. Aderogba has contributed significantly to Nigeria’s financial infrastructure, helping to introduce critical instruments such as the Nigerian Inter-Bank Offered Rate (NIBOR) and the Nigerian Foreign Exchange Fixing (NiFEX).

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a graduate of the University of Lagos, and currently serves on the advisory board of the Commonwealth Enterprise and Investment Council.

Oyetola stated that the appointment of Aderogba and the operationalisation of the RMDB will catalyse development, boost trade, and unlock funding for critical maritime infrastructure.