Sequel to the recent demutualisation of The Exchange, Mr Oscar Onyema has now completed his tenure as the Chief Executive Officer (CEO) of The Nigerian Stock Exchange (NSE or The Exchange)
This is according to notice made public by the NSE, and seen by NBI. Following the successful demutualization of the Exchange, Mr. Onyema has transitioned into the Group Chief Executive Officer (GCEO) of the Nigerian Exchange Group (NGX Group) Plc.
Back story: The NSE had earlier announced a demutualization policy which will convert the Exchange from a company limited by guarantee to a public company limited by shares. The successful transition led to the emergence of the Nigerian Exchange Group (NGX Group) Plc and three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited, and NGX Real Estate (NGX RelCo) Limited.
Sequel to this, Mr Oscar Onyema was appointed as the new Group CEO of the Nigerian Exchange Group Plc. In addition, other eminent capital market experts such as; Temi Popoola and Tinuade Awe were appointed CEOs of the new subsidiaries- Nigerian Exchange limited and NGX Regulation limited respectively.
Commenting on the recent development, the Chairman of the Nigerian Exchange Group (NGX Group) Plc, Otunba Abimbola Ogunbanjo 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 ten years. After his first year of leadership, it became evident that his strategic mindset and mastery of Exchange business was what NSE dearly needed to rise to its next level of growth. As anticipated, The Exchange went on to experience significant growth as the years went 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.”
On the other hand, Mr. Oscar N. Onyema, OON thanked all those that played a key role in his stint as the CEO, he said:“I arrived at The Nigerian Stock Exchange 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 the 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.”