The Nigerian Stock Exchange says Oscar Onyema has completed his tenure as its chief executive officer after spending 10 years in the saddle.

Olumide Orojimi, the NSE’s spokesman, said in a statement on Tuesday in Lagos that a closing gong ceremony was held on April 1 to honour Onyema.

Also, Abimbola Ogunbanjo, Chairman of the Nigerian Exchange Group (NGX Group) Plc, said the closing gong was in commemoration of Mr Onyema’s exemplary leadership.

Following the successful demutualisation of the NSE, Mr Onyema will become the Group Chief Executive Officer of NGX Group.

“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,” said Mr Ogunbanjo.

Speaking on the development, Mr 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.”

The NSE’s demutualisation has led to the emergence of the Nigerian Exchange Group Plc and three subsidiaries (Nigerian Exchange Limited, NGX Regulation Limited, and NGX Real Estate Limited).

Temi Popoola will become the CEO of NGX Limited, while Tinuade Awe will be NGX RegCo Limited’s CEO. 

(NAN)