SEC approves appointment of CEOS of demutualised entities

National Council of the Nigerian Stock Exchange ( NSE) has announced the appointments of Chief Executives Officers ( CEOS) that will head its non- operating holding company and operating subsidiaries.

The appointment as approved by the Securities Exchange Commission ( SEC) under the demutualisation plan is a new non- operating holding company, the Nigerian Exchange Group Plc. ( NGX Group).

The exchange said the group will have three operating subsidiaries: the Nigerian Exchange Limited ( NGX), the operating exchange; NGX Regulation Limited ( NGX REGCO), the independent regulatory company; and NGX Real Estate Limited ( NGX RELCO), the real estate company – forming the group.

It stated that all the entities have been duly registered at the Corporate Affairs Commission ( CAC).

The Chairman, Board of Directors, NGX Group , Abimbola Ogunbanjo, stated: “The confirmation of these appointments are an important step in the process of building a leading and resilient African Exchange Group following the completion of our demutualisation programme. “I am delighted to continue working with Oscar Onyema, who has played a significant role in the reshaping of the exchange. As a proven business leader and strategic thinker , I am confident that he will elevate the NGX Group and its subsidiaries successfully into a new era of development.

Chairman of NGX Group, A. B. Mahmoud, said: “The confirmation of the appointment of Temi Popoola as the first CEO of the Nigerian Exchange Limited comes at a pivotal moment for Nigerian capital markets as the exchange enters a new phase of its history as a demutualised company, bringing to the exchange his track record of achievement local and global capital markets.”