Onyeama to head NGX group as GCEO upon demutualization of NSE

Zainab Iwayemi

Following the successful demutualization of the Nigerian Stock Exchange, Oscar Onyema, has emerged as the Group Chief Executive Officer (GCEO), Nigerian Exchange Group (NGX Group) Plc upon the completion of his tenure as the CEO of the Nigerian Stock Exchange.

Onyema was honored as the GCEO in commemoration of his exemplary leadership on Thursday during a digital closing gong ceremony.

Otunba Abimbola Ogunbanjo, the chairman, Nigerian Exchange Group (NGX Group) Plc, while speaking at the event  lauded Onyema’s performance in bring the Exchange this far, “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 demutualization 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.” He said

Commenting on his own victory, Onyema expressed delight to have led the industry thus far. He, however, reiterated his commitment to further work with others to take the NGX Group Plc and its subsidiaries to a greater height.

“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 an 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 demutualization 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,” he said.

The demutualization of The Exchange led to the emergence of the Nigerian Exchange Group (NGX Group) Plc with three subsidiaries  namely; Nigerian Exchange (NGX) Limited as the operating exchange, NGX Regulation (NGX RegCo) Limited as the independent regulatory company and NGX Real Estate (NGX RelCo) Limited as the real estate company.

Others to spearhead the team includes; Temi Popoola, CFA, who will assume the role of CEO, NGX Limited, while Tinuade Awe will become the CEO, NGX RegCo Limited.