Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, CON (left) and the newly appointed President/CEO of the Regional Maritime Development Bank (RMDB), Mr. Adeniran Aderogba.
By Oluyinka Onigbinde
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced the official take-off of the Regional Maritime Development Bank (RMDB), following the approval of President Bola Ahmed Tinubu for Nigeria to host the long-awaited institution.
The President has also approved the appointment of Mr. Adeniran Aderogba, a seasoned Nigerian maritime and finance expert, as the bank’s first President and Chief Executive Officer.
The RMDB project, first conceived in 2009 by member states of the Maritime Organization of West and Central Africa (MOWCA), had been stalled for over a decade. Its operationalization under the Tinubu administration marks the end of a 16-year delay and signals renewed momentum for maritime development in the region.
“This is a historic milestone not only for Nigeria, but for the entire West and Central African sub-region,” Oyetola said. “President Tinubu’s decisive intervention has broken the long-standing impasse, reaffirming Nigeria’s leadership in regional integration and maritime growth.”
Designed as a specialized financial institution, the RMDB will provide long-term financing for critical maritime projects—including port infrastructure, fleet acquisition, shipping logistics, and intermodal transport systems. The bank is expected to play a vital role in actualizing President Tinubu’s Renewed Hope Agenda, with a focus on infrastructure development and economic cooperation across the region.
Mr. Aderogba, the newly-appointed President/CEO, brings over 30 years of experience spanning maritime administration, investment banking, and financial consulting. He previously served as Executive Director of Finance and Administration at the Nigerian Maritime Administration and Safety Agency (NIMASA) and was later appointed as the agency’s Acting Director General. In the financial sector, he held senior leadership roles at First Atlantic Bank Plc and MBC International Bank Ltd, overseeing major transactions in investment banking and structured trade finance.
He is the founder of CLG Securities Limited and began his career at KPMG, gaining key experience in auditing and financial advisory. His career includes leading transactions worth over US$5 billion and contributing to the development of Nigeria’s financial infrastructure, including the Nigerian Inter-Bank Offered Rate (NIBOR) and the Nigerian Foreign Exchange Fixing (NiFEX). Mr. Aderogba is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the University of Lagos. He currently serves on the advisory board of the Commonwealth Enterprise and Investment Council.
“His appointment is a bold and strategic step,” the Minister added. “Mr. Aderogba’s leadership will be instrumental in translating the RMDB from vision to impact.”
The appointment was formally conveyed to Mr. Aderogba through the office of the Director, Maritime Safety and Security, Mr. Babatunde Bombata.
With Nigeria as the host and a tested professional at the helm, the Regional Maritime Development Bank is set to become a driving force for maritime investment, trade facilitation, and regional prosperity.
