NGX Group names Olufemi Shobanjo as new CEO of subsidiary, NGX RegCo

Business a.m

The NGX Group Plc board of directors has announced the appointment of Olufemi Shobanjo as the new Chief Executive Officer (CEO) of NGX Regulation Limited (NGX RegCo), a subsidiary of Nigerian Exchange Group Plc. 

The development was contained in a notice to the Nigerian Exchange Limited and the investment community, signed by Izuchukwu Akpa, acting Group company secretary

According to the statement, Shobanjo’s appointment was officially approved by the Securities and Exchange Commission (SEC), the regulatory body responsible for the Nigerian capital markets following a thorough and transparent appointment process 

NGX RegCo also announced that Shobanjo succeeded Tinuade Awe on February 28, 2024, after the  latter  completed her tenure on February 27, 2024, 

The statement read; “This is to notify Nigerian Exchange Limited (NGX or The Exchange) and the investing public of the appointment of Mr. Olufemi Shobanjo as the Chief Executive Officer of NGX Regulation Limited (NGX RegCo), the independent Self-Regulatory Organisation subsidiary of Nigerian Exchange Group Plc. 

Shobanjo’s appointment takes effect on Wednesday, 28 February 2024, following the receipt of the Securities and Exchange Commission’s No-Objection, as the former CEO, Ms. Tinuade Awe, completed her tenure on Tuesday, 27 February 2024”.

The statement also highlighted Shobanjo’s extensive experience in corporate and commercial law, compliance and regulation, and banking and financial markets. With over 18 years of experience in these fields, the NGX RegCo expressed confidence that Shobanjo is well-qualified to lead the company and to maintain the integrity of the capital markets.

Prior to his appointment as CEO of NGX RegCo,  Shobanjo served as head of broker-dealer regulation at the company, where he was responsible for developing and implementing regulatory strategies, policies and procedures. 

The board of NGX Group Plc congratulated  Shobanjo on his appointment and expressed its appreciation for his contributions to the company. The board also wished  Awe success in her future endeavours, following her completion of her tenure as CEO