In a landmark move that signals a new era for maritime finance in West and Central Africa, President Bola Ahmed Tinubu, GCFR, has approved the establishment of the long-awaited Regional Maritime Development Bank (RMDB), appointing Nigerian maritime and finance expert Mr. Adeniran Aderogba as the institution’s first President and Chief Executive Officer.
The announcement was made by the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, CON, who described the development as “a moment of great significance” for Nigeria and the sub-region. The RMDB, conceived in 2009 by member states of the Maritime Organization of West and Central Africa (MOWCA), had suffered a 16-year delay in implementation—until now.
“President Tinubu has broken a long-standing jinx,” Oyetola said. “This approval reaffirms Nigeria’s commitment to regional integration, maritime development, and economic cooperation. It also aligns strongly with the Renewed Hope Agenda, which prioritizes infrastructure development and inclusive growth.”
The Regional Maritime Development Bank is envisioned as a critical financial engine to support long-term investments in port infrastructure, fleet acquisition, shipping logistics, and intermodal transport across the West and Central African maritime corridor. As host nation, Nigeria is expected to play a central role in steering the bank’s influence and operations.
Mr. Adeniran Aderogba’s appointment was lauded by the minister as a bold and competent choice. With over three decades of experience spanning maritime administration, investment banking, and financial regulation, Aderogba is seen as uniquely positioned to drive the RMDB from conception to execution.
Aderogba previously served as Executive Director, Finance and Administration at the Nigerian Maritime Administration and Safety Agency (NIMASA), where he was later appointed Acting Director General. In the private sector, he held senior roles at First Atlantic Bank Plc and MBC International Bank Ltd, overseeing investment banking and structured trade finance.
He is also the founder of CLG Securities Limited, a financial advisory and investment firm, and began his career with global consulting giant KPMG. Over the years, he has led deals worth over \$5 billion across various sectors and was instrumental in developing key financial benchmarks like the Nigerian Inter-Bank Offered Rate (NIBOR) and the Nigerian Foreign Exchange Fixing (NiFEX).
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a University of Lagos graduate, Aderogba currently serves on the advisory board of the Commonwealth Enterprise and Investment Council.
His appointment has been formally communicated through the office of the Director of Maritime Safety and Security, Mr. Babatunde Bombata.
Minister Oyetola emphasized that with Aderogba at the helm, and Nigeria as host nation, the RMDB is now set to become a transformative institution capable of unlocking funding, boosting trade, and accelerating development across the region’s maritime sector.
“This is not just a Nigerian victory; it is a regional milestone,” Oyetola stated. “The RMDB will serve as a catalyst for prosperity, connectivity, and strategic growth across Africa’s maritime frontier.”