Business

Onyema completes tenure as NSE’s CEO

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By Itohan Abara-Laserian

The Nigerian Stock Exchange (NSE) said Mr. Oscar Onyema had completed his tenure as CEO after a period of 10 years.

Mr. Olumide Orojimi, head of corporate communications at NSE, said in a statement in Lagos on Tuesday that a closing ceremony took place on April 1 in honor of Onyema.

Additionally, Otunba Abimbola Ogunbanjo, President, Nigerian Exchange Group (NGX Group Plc, said the closing gong was in commemoration of Onyema’s exemplary leadership.

Following the successful demutualization of the Exchange, Onyema would become the Group Chief Executive Officer (GCEO), NGX Group Plc.

Ogunbanjo said, “It is impossible to overstate Oscar Onyema’s contributions to the growth of The Exchange and the development of the capital market over the past 10 years.

“After his first year as a manager, it became evident that his strategic mind and mastery of the Exchange business is what NSE needs to achieve its next level of growth.

“As expected, The Exchange has experienced significant growth over the years, most notable of which is the recent completion of the demutualization of The Exchange.

“It was indeed a pleasure working with him during our time at the NSE and I look forward to continuing our journey to greatness in the NGX era.”

The new GCEO, Onyema, said: “I came to the NSE when the stock market was in the doldrums, investor confidence low, the mono-product and the stock market under regulatory administration.

“With tunnel vision, collaboration with stakeholders in the financial system and perseverance, we were able to overcome almost any challenge.

“I am delighted to have worked with thoughtful members of the National Council, visionary leaders on the Executive Committee and a team of experts from The Exchange to achieve such excellent results.

“We have come a long way from where we were and I am excited about the opportunities that demutualization opens up for us in the years to come.

“I must reiterate my commitment to ensuring that NGX Group Plc and its subsidiaries fulfill their mandate to become the leading provider of financial market infrastructure in Africa.

“I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to make this goal a reality.”

The demutualization of the Stock Exchange led to the emergence of the Nigerian Exchange Group Plc and three subsidiaries: Nigerian Exchange (NGX) Limited; NGX Regulation (RegCo)Limited and NGX Real Estate Limited.

Mr. Temi Popoola will assume the role of CEO of NGX Limited while Ms Tinuade Awe will become CEO of NGX RegCo Limited. (NOPE)

(NAN)

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