Who is Olufemi Lijadu, New SEC Board Chairman?



Four years after the dissolution of the board of the Security and Exchange Commission (SEC), President Muhamadu Buhari on Monday constituted a new board for SEC and it would be chaired by a lawyer, Olufemi Lijadu.

Inaugurated by the Permanent Secretary in the Ministry of Finance, Mahmoud Isa-Dutse, the board was constituted to regain public-private and investor confidence in the apex regulator of the capital market.

Full-time members appointed into the board include Mary Joseph Udu, the acting DG of SEC, Isyaku Bala Tilde, acting executive commissioner, operations, Reginald Karawusa, acting executive commissioner, legal and enforcement and Henry Adekunle Rowlands, acting executive commissioner, corporate services.

The part-time board members are Okokon Ekanem Udo – representing the ministry of finance, Angela Adewumi Sere-Ejembi – representing the Central Bank of Nigeria, Faruk Ladi Rekiya – part-time commissioner and Lamido Abubakar Yuguda -part-time commissioner.

Financial Technology Africa examines the career-path of Olufemi Lijadu, who will chair the SEC board for the next four years. 

State and professional background

Olufemi Lijadu is a leading commercial lawyer with over 30 years’ experience in private practice and in-house. He is from Ogun state in the south western part of Nigeria. He has previously worked with Ajumogobia & Okeke, a legal firm between 2011 and 2016. During his time at the law firm, his areas of specialisation were banking and finance, foreign investment, company and commercial law.

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He has also worked with Udo Udoma& Belo-Osagie and was part of the team that formulated the legal and business strategy for the $4 billion Liquefied Natural Gas (LNG) project in Nigeria.

First company secretary at United Bank for Africa

In 1994, Lijadu was appointed as the company secretary of United bank for Africa [UBA] to become the first post-privatisation company secretary and legal adviser.

By 1997, he became UBA’s executive director, management services sector and eventually occupied the office of the executive director, an international sector at the bank.

Auditor of recovered assets

He recently worked with the federal government as a chairman of the Presidential Audit Committee on Recovered Public Assets. The committee audited recovered funds from May 29, 2015, to April 10, 2017, and later extended to November 22, 2017.

Partner at Ukiri and Lijadu Law Firm

Olufemi Lijadu is a partner and heads banking and finance practice of U&L-Ukiri Lijadu Ukiri and Lijadu Law firm, a commercial law firm based in Lagos.  Lijadu returned to private practice in 2011 having worked in-house as company secretary and legal adviser and executive director of UBA Plc. He was also a non-executive director of UBA Trustees and First Security Discount House (the first Discount House in Nigeria).