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.
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.”
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.