The Securities and Exchange Commission (SEC) has approved the appointments of the Chief Executive Officers of the demutualized exchange and their operating subsidiaries.
The approved appointments are those of Mr Oscar Onyema, as the Group Chief Executive Officer, NGX Group; Temi Popoola, as the Chief Executive Officer, Nigerian Exchange Ltd., and Ms Tinuade Awe, as the Chief Executive Officer, NGX Regulation Ltd.
This disclosure was made by the Chairman of the Nigerian Exchange Group Plc (NGX Group), Otunba Abimbola Ogunbanjo, on Thursday, April 1, 2021, in Lagos.
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What the Chairman of the NGX Group is saying
Ogunbanjo said that the confirmation of these appointments would help to build a leading and resilient African Exchange Group.
He said, “The confirmation of these appointments are an important step in the process of building a leading and resilient African Exchange Group following the completion of our demutualisation programme.
I am delighted to continue working with Oscar N. Onyema, OON, who has played a significant role in the reshaping of the Exchange. As a proven business leader and strategic thinker, I am confident that he will elevate the Nigerian Exchange Group (NGX Group) and its subsidiaries successfully into a new era of development.’’
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Ogunbanjo also expressed his appreciation to the retiring Ex-Officio Member of the Council, Mr Aigboje Aig-Imokhuede.
He said, “I would like to warmly thank Mr Aigboje Aig-Imokhuede, who retires as Ex-Officio of the National Council following the demutualisation of the Exchange.
He not only provided wise and valuable counsel to the NSE over the years in its quest toward its demutualisation, he contributed significantly to the transformational achievements recorded by the Exchange during his tenure as President.
I speak on behalf of the Council and Management of the NSE in commending him for his exceptional service and wishing him well in his future endeavours. Equally, I thank all past leaders of the Exchange, many of whom started this journey and are alive to witness this epochal transition.’’
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What you should know
- It can be recalled that under the demutualization plan, the NGX Group Plc, a new non-operating holding company was created as the parent company for the NSE and its operating structures with its three operating subsidiaries.
- These subsidiaries include Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory arm; and NGX Real Estate Limited (NGX RELCO), the real estate company – forming the group.
- The demutualization will enable the stock exchange to make its shares available to the public and would be listed on the new exchange, allowing the NGX Group to realise its vision of becoming Africa’s leading exchange hub.
- All the entities have been duly registered at the Corporate Affairs Commission.