The Nigerian Exchange Group Plc (NGX Group) has made significant appointments to the boards of its subsidiaries, namely Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo), and NGX Real Estate Limited (NGX RelCo). The group disclosed this in a statement on the NGX yesterday.
Appointments to the NGX Limited
Starting from September 27, 2023, NGX has appointed Ahonsi Unuigbe as its new Board Chairman, succeeding the retired Abubakar Mahmoud (SAN).
In addition to this change, several board members, including Erelu Angela Adebayo, Kamarudeen Oladosu, Yomi Adeyemi, and Seyi Osunkeye, have also retired.
Furthermore, NGX shareholders have approved the appointment of Jude Chiemeka as Executive Director, along with five Non-Executive Directors: Lilian Olubi, Azubuike Okpalaoka, Hamza Sule Wuro Bokki, Sehinde Adenagbe, and Foluke Oyeleye.
Changes to NGX Regulation Limited (NGX RegCo) management
Likewise, NGX RegCo has welcomed Salamatu Suleiman as its new Board Chairman, effective from September 30, 2023, succeeding the retired Catherine Echeozo.
Additionally, Foluke Oyeleye has resigned from NGX RegCo’s board due to her appointment as a Director at Nigerian Exchange Limited.
NGX RegCo’s shareholders have also approved the appointments of Olufemi Akinsanya as a Non-Executive Director and Amina Mohammed as an Independent Non-Executive Director.
Appointments to NGX Real Estate Limited (NGX RelCo)
Furthermore, NGX RelCo has appointed Ngozichukwuka Edozien as the new Board Chairman, effective from October 7, 2023, succeeding the retired Erelu Angela Adebayo.
Shareholders of NGX RelCo have also approved the appointment of Fiona Ahimie as a Non-Executive Director and the addition of two Independent Non-Executive Directors, Victor Alonge and Abdullahi Suleiman.
Reaction to the appointments
Commenting on the key management changes across its subsidiaries, Alhaji (Dr) Umaru Kwairanga, Group Chairman of NGX Group, stated,
- “I am delighted to announce these pivotal changes in the leadership of our subsidiaries, NGX, NGX RegCo, and NGX RelCo.”
- “The appointments of Mr Unuigbe, Dr Suleiman, and Ms Edozien represent a defining moment in our journey. We have meticulously planned for this transition, and I have complete confidence that they will continue to uphold our tradition of excellence and steer our organizations toward even greater heights.”
The board is mainly old wine in.new bottle. Some of the so called new members have served in the old NSE as council.members. Some stockbrokers are yet to benefit from such appointment during their careers. They are being overlooked