The Honourable Minister of the and Blue Economy, His Excellency Adegboyega Oyetola, CON, has announced that President Bola Ahmed Tinubu, GCFR, has given approval for Nigeria’s hosting of the long-awaited Regional Maritime Development Bank (RMDB) and appointed a Nigerian, Mr. Adeniran Aderogba, as the Bank’s first President and Chief Executive Officer.

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.

A statement signed by the Media and Communications Adviser to the Honourable minister, Federal Ministry of Marine and Blue Economy, Dr. Bolaji Akinola, said the approval marks the historic takeoff of a project that has been in the works since 2009, when member states of the Maritime Organization of West and Central Africa (MOWCA) first approved the establishment of the bank. The long delay in operationalizing the institution is now over, with President Tinubu breaking yet another jinx and giving a much-needed boost to the regional maritime sector.

“This is a moment of great significance for Nigeria and the entire West and Central African sub-region,” said the Honourable Minister. “After 16 years of waiting, the Regional Maritime Development Bank is finally taking off, thanks to the decisive leadership of President Bola Ahmed Tinubu. His approval not only breaks a longstanding deadlock but also reaffirms Nigeria’s commitment to regional integration, maritime development and economic cooperation.” the statement said.

The statement clarified that 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. It is a cornerstone initiative aligned with President Tinubu’s Renewed Hope Agenda, which prioritizes infrastructure development, inclusive economic growth, and regional partnership.

According to the statement; Mr. 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.

His 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 US$5 billion across diverse sectors, including landmark deals recognized internationally. Mr. Aderogba also began his career with KPMG, where he gained foundational experience in auditing and financial consulting.

A respected thought leader in financial markets, Mr. 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.

“The appointment of Mr. Aderogba and the operationalization of the RMDB will catalyze development, boost trade, and unlock funding for critical maritime infrastructure,” the Minister stated. “This achievement is yet another testament to President Tinubu’s unwavering resolve to deliver on long-standing commitments and drive transformative change across the region.”

Mr. Aderogba’s appointment has been duly communicated to him through the office of the Director, Maritime Safety and Security, Mr. Babatunde Bombata.

With Nigeria as the host nation and a seasoned professional at the helm, the Regional Maritime Development Bank is now poised to become a powerful engine for regional growth, connectivity, and prosperity.