Appointment Announcement
President Bola Tinubu has appointed Muhammad Hadi Mutallab, a director at Jaiz Bank, as the new Chairman of the Board of the Nigeria Export Processing Zones Authority (NEPZA). The appointment was confirmed in a statement released by the presidency on Tuesday, July 14, 2026. Mutallab's appointment is part of a broader reshuffle of key agency boards aimed at driving economic growth and improving regulatory efficiency.
Background of Muhammad Hadi Mutallab
Muhammad Hadi Mutallab brings extensive experience in banking and finance to his new role. He currently serves as a non-executive director at Jaiz Bank Plc, Nigeria's first non-interest bank. Prior to this, he held senior positions in various financial institutions, including a stint at the Central Bank of Nigeria. According to his profile, Mutallab has over 20 years of experience in corporate banking, risk management, and Islamic finance.
Role of NEPZA
The Nigeria Export Processing Zones Authority is responsible for regulating and promoting free trade zones in Nigeria. These zones are designed to boost non-oil exports, attract foreign direct investment, and create jobs. NEPZA oversees over 40 licensed free trade zones across the country, including the Lekki Free Trade Zone and the Calabar Free Trade Zone. The agency plays a critical role in the government's economic diversification strategy.
Reactions and Expectations
Industry stakeholders have welcomed Mutallab's appointment, citing his expertise in finance and governance. "His track record in Islamic banking and corporate leadership will be invaluable in driving NEPZA's mandate," said an analyst familiar with the appointment. The presidency expects Mutallab to enhance the operational efficiency of the authority and attract more investments into Nigeria's free trade zones.
Broader Implications
This appointment comes at a time when the Nigerian government is intensifying efforts to boost non-oil revenue. The free trade zones have been identified as key drivers of industrialisation and export growth. Mutallab's leadership is anticipated to improve the ease of doing business within these zones and align them with global best practices.
