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Oscar Onyema completes 10-year tenure as CEO of NSE

Chike OlisahbyChike Olisah
2 years ago
in Markets, Stock Market
onyema, Market data, CEO NSE, NSE lifts suspension on Omatek Ventures’ shares, NSE launches Comic Book to boost financial literacy, NSE goes public with 2.5 billion ordinary shares in unanimous vote by the members, NSE commemorates 2020 International Women’s Day and rings the bell for gender equality, COVID-19: NSE extends time for submission of financial statements, NSE PUBLISHES GUIDANCE TO FACILITATE EFFECTIVE VIRTUAL MEETINGS FOR STAKEHOLDERS AMIDST COVID-19, NSE Hosts First-Ever Digital Closing Gong Ceremony, NSE set to host financial leaders at upcoming webinar, NSE commemorates world investor week 2020, Agricultural sector can be a game changer for generating forex- Onyema, NGX GMG

Oscar Onyema, Group Managing Director and CEO, Nigerian Exchange Group Plc

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The Nigerian Stock Exchange (NSE) has announced the completion of Mr Oscar Onyema’s tenure as its Chief Executive Officer (CEO) after 10 years.

This disclosure is contained in a statement issued by the Head, Corporate Communication of NSE, Mr Olumide Orojimi, on Tuesday in Lagos, where it was added that a closing gong ceremony was held on April 1 to honour Onyema.

The Chairman, Nigerian Exchange Group (NGX Group), Otunba Abimbola Ogunbanjo, said that the closing gong was in commemoration of Onyema’s exemplary leadership.

Onyema is expected to become the Group Chief Executive Officer (GCEO), NGX Group Plc following the successful demutualisation of the Exchange.

READ: SEC approves appointment of CEOs of demutualized exchange and subsidiaries

What the Chairman of NGX Group is saying

Ogunbanjo, in his statement, said, “It is impossible to overstate Oscar Onyema’s contributions to the growth of The Exchange and the development of the capital market in the past 10 years. After his first year of leadership, it became evident that his strategic mindset and mastery of Exchange business is what NSE dearly needs to rise to its next level of growth.

As anticipated, The Exchange went on to experience significant growth as the years passed by, most notable of which is the recent completion of the demutualisation of The Exchange. It has indeed been a pleasure working with him in our time at the NSE and I look forward to our continued journey to greatness in the NGX era.”

READ: SEC declares the activities of Famzhi Interbiz illegal

What the new Group Chief Executive Officer of NGX Group is saying

Oscar Onyema, the new GCEO, said, “I arrived at the NSE when the stock market was in the doldrums, investors’ confidence low, mono-product and the bourse under regulatory administration. With tunnel vision, collaboration with stakeholders in the financial system and perseverance, we have been able to surmount almost all of the challenges.

“I am delighted to have worked with astute members of the national council, visionary leaders in the executive committee and an expert crop of staff at The Exchange to have delivered excellent results. We have come a long way from where we used to be and I am excited about the opportunities demutualisation has opened for us in the coming years.

“I must reiterate my commitment to ensuring that the NGX Group Plc and its subsidiaries deliver on the mandate to become Africa’s leading capital market infrastructure provider. I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear.”

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.
  • Mr Temi Popoola will assume the role of CEO, NGX Limited, while Ms Tinuade Awe will become the CEO of NGX RegCo Limited.

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Tags: NGX GroupNigerian Stock ExchangeNSEOscar Onyema

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