Nigerian Stock Exchange reshuffles management team

The Nigerian Stock Exchange (NSE) has announced a change in its management team, through a press release dated Monday, November 6,  2017, on its website.

According to the statement, NSE confirmed that Ade Bajomo, Executive Director, Market Operations, and Technology has resigned his appointment effective December 31, 2017, as Haruna Jalo-Waziri, in light of his recent appointment as the Chief Executive Officer of CSCS Plc, has resigned his position as Executive Director, Capital Markets at The Exchange effective October 31, 2017.

Commenting on the development, Oscar N. Onyema, Chief Executive Officer, NSE, appreciated Ade and Haruna for “their immense contributions to the transformation of The Exchange and the Nigerian capital markets over the past few years,” confirming that they “led various significant projects and initiatives to improve efficiency and drive sustainable growth of the market.”

On his part, Jalo-Waziri said “I consider myself privileged to have served The Nigerian Stock Exchange as the Executive Director in charge of Capital Markets for over five years. I am honoured to have worked with the CEO, Oscar N. Onyema, management and staff of the Exchange and a vast majority of exemplary people within the capital market ecosystem over the years. As I move to the next phase of my career, I look forward to continue contributing to the development of the capital market through my stewardship at CSCS”.

Jalo-Waziri made significant contributions to NSE’s revenue growth and had responsibility for several key projects and initiatives. Some of his signature assignments were launch of the premium board, Federal Government Savings bond, Eurobond, Sovereign Green bond development, Exchange traded funds, and incorporation of NG Clear Limited. He was also the sponsor for the Derivatives Project, which is set to launch imminently. For the wider capital market, he chairs the CAMMIC sub-committee on attraction of new listings.

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Ade Bajomo said “It has been my personal privilege and professional honor to have worked and served the Nigerian Stock Exchange in the capacity of Executive Director, Market Operations and Technology. In my over six years with the Exchange, I have worked with a highly talented pool of individuals within the exchange and the wider capital market that supported our work and delivery of market-wide initiatives and I will sorely miss them all. I am also honoured to have worked with the previous and current council presidents and members. I am confident that the market will continue its growth trajectory and sustain market leadership.”

Some of Bajomo’s key achievements include the digital revolution of trading at the Exchange with the launch of XGEN, XNET, an introduction of trading app called Trade Smart, organization of the first NSE Market Data Workshop, and phenomenal growth of the market data business to name a few. For the wider capital market, he served on the board of NASD Plc and chaired the Infrastructure and Technology sub-committee of the Nigerian Capital Market Committee.

In the interim, internal arrangements have been made to ensure full oversight of the Divisions previously covered by Bajomo and Jalo-Waziri while the Exchange conducts a search for permanent replacements for the executive roles pursuant to the NSE’s ongoing strategic reorganization plans to support its new ambitions.