Trading

Nigeria’s Stock Exchange: Mr Oscar Onyema Completes Tenure As CEO

Mr Oscar Onyema has completed his tenure as the the Chief Executive Officer of the Nigerian Stock Exchange (NSE).

 

A new non-operating holding company, the Nigerian Exchange Group (NGX Group) with three operating subsidiaries has been created, following a demutualization process by the NSE.

 

In demutualization, an Exchange is converted from a company owned by members or brokers to one in which members of the public can buy shares. Consequently, the NSE will henceforth run as a public company, rather than a private company.

 

This makes the NSE the 57th Exchange in the world since Sweden’s Stockholm Stock Exchange made a similar move in 1993.

Speaking at the event, President of the Nigerian Stock Exchange, Abimbola Ogunbanjo, @a_ogunbanjo extolled Mr Onyema’s leadership qualities:

 

“His leadership qualities have not gone unnoticed. He was elected ThisDay Man of the Year 2012 and awarded Officer of the Order of the Niger (OON) in September, 2014.

 

“Since he joined the Exchange in 2011, @OscarNOnyema has delivered exceptional outcomes despite the challenging economic operating environment.

 

“Today the NSE is a transparent and well run and globally competitive Exchange with a modern market structure that supports the delivery of a wide range of investment products. #NSECelebratesOscar

 

“Oscar’s management turned things around by focusing on technology, regulation, product development, regional and international competition; all geared towards creating and maintaining a robust and transparent capital market.

 

“These achievements can be attributed to a successful transformation initiative championed by  him and his team.

 

“Looking ahead, I am confident that Oscar will bring the vision, innovation and professionalism that have characterized his tenure at the Exchange to bear as we move into the NGX era.”

 

Source: Voice of Nigeria