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The Nigerian Stock Exchange says Oscar Onyema has completed his tenure as its Chief Executive Officer after a 10-year period.
Olumide Orojimi, NSE Head of Corporate Communications, said in a statement on Tuesday in Lagos that a closing gong ceremony was held on April 1 to honour Onyema.
Also, Otunba Abimbola Ogunbanjo, Chairman, Nigerian Exchange Group (NGX Group) Plc, said the closing gong was in commemoration of Onyema’s exemplary leadership.
Following the successful demutualisation of the Exchange, Onyema would transition into the Group Chief Executive Officer, NGX Group Plc.
Ogunbanjo stated: “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 pass 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.”
The new GCEO, Onyema, 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 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.”
The demutualisation of the Exchange has 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.
Temi Popoola will assume the role of CEO, NGX Limited, while Tinuade Awe will become the CEO, NGX RegCo Limited.