Demutualisation: Onyema completes tenure as CEO, NSE transitions into Group CEO
By Kayode Tokede
Following the successful demutualisation of The Exchange, Mr. Onyema has transitioned into the Group Chief Executive Officer (GCEO), Nigerian Exchange Group (NGX Group) Plc.
Speaking at the Closing Gong Ceremony, the Chairman, Nigerian Exchange Group (NGX Group) Plc, Otunba Abimbola 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 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 his part, the GCEO, NGX Group Plc, Mr. Oscar Onyema noted thus, “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 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 (NGX Group) Plc and three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited. Mr. Temi Popoola, CFA will assume the role of CEO, NGX Limited, while Ms. Tinuade Awe will become the CEO, NGX RegCo Limited.
