The Nigerian Alternate Group has introduced the appointment of Temi Popoola as Group Managing Director/Chief Govt Officer of the group, forward of the retirement of the present GMD, Oscar Onyema, subsequent yr.
Based on an announcement signed on Friday by the Group Secretary, Obehi Ikhaghe, the appointment will take impact on January 1, 2024.
Additionally, the Alternate's Govt Director of Capital Markets, Jude Chiemeka, has been appointed Performing CEO of Nigerian Alternate Restricted.
The assertion learn partially: “After receiving the no objection from the Securities and Alternate Fee to the announcement of the appointment, Nigerian Alternate Group Plc is happy to announce the appointment of Mr. Temi Popoola as GMD/CEO designee with impact from January 1, 2024. topic to formal SEC approval of the appointment.
“Mr. Jude Chiemeka has additionally been appointed Performing Chief Govt Officer of Nigerian Alternate Restricted with impact from January 1, 2024.”
It was revealed that Onyema will full his time period on March 31, 2024, and earlier than that, he’ll begin his terminal go away on January 1, 2024.
Commenting on the appointments, NGX Group Chairman Umaru Kwairanga mentioned: “I’m happy to announce these essential adjustments within the management of NGX Group, that are a testomony to efficient succession planning. I want to specific my honest gratitude to Mr. Onyema for his nice management, first as CEO of the Nigerian Inventory Alternate from 2011 – 2021 after which as GMD/CEO of NGX Group Plc from 2021 – 2024.
“Mr. Onyema led the stabilization, development, demutualization and restructuring of the Nigerian Inventory Alternate into NGX Group Plc, a public restricted firm, which is a significant milestone within the historical past of the group. He additionally led the itemizing of the corporate in the primary board of NGX.
“I’ve little doubt that Mr Popoola will be capable to efficiently proceed the legacy Mr Onyema has created and take the NGX Group to larger heights. I additionally strongly consider in Mr. Chiemeka's skill to seamlessly take over the management of NGX from Mr. Popoola, constructing on his spectacular efficiency and driving continued development within the capital markets.”
The GMD/CEO, Oscar Onyema, in his feedback, mentioned: “I’m deeply grateful for the privilege of getting led the Nigerian Inventory Alternate as CEO and later Nigerian Alternate Group Plc as GMD/CEO. I lengthen my finest needs to Mr. Popoola and have full confidence in his skills to proceed the legacy and development of NGX Group. I’m grateful for the assist and dedication of your complete NGX Group workforce and capital markets stakeholders throughout my tenure. Collectively we’ve enabled important growth in Africa's capital markets, and I’m happy with the a number of achievements we’ve made since 2011.
“As I enter a brand new section, I’m dedicated to making sure a clean transition and stay up for witnessing the continued development and prosperity of the NGX Group underneath Mr. Popoola's management. The long run is certainly promising.”
On his half, Popoola mentioned: “I step into this new position at NGX Group Plc with a deep sense of accountability and enthusiasm. I specific my appreciation to Mr. Onyema, for his distinctive management throughout his tenure, and to the Board of Administrators for the arrogance positioned in me.
“The modernization of Nigeria's market infrastructure and the demutualization and restructuring of NSE underneath Mr. Onyema's management have been instrumental in shaping the NGX Group, and I’m honored to proceed this legacy. I’m totally dedicated to constructing on the inspiration that has been laid and taking NGX Group to larger heights. With the assist of the devoted workforce and in collaboration with the esteemed management, I’m optimistic concerning the thrilling alternatives and challenges that lie forward.
“I even have nice confidence in Mr. Chiemeka's skill to efficiently helm issues at NGX and propel NGX to larger heights.”
Based on the profile of the CEO candidate, who’s presently CEO, NGX, member of the NGX Group Govt Committee chaired by Onyema, began his profession in London as a portfolio supervisor centered on African power markets and labored for a number of years as a senior dealer in fairness derivatives at Financial institution of America Securities in New York, the place he drove company profitability by offering derivatives options to US firms and household places of work.
Popoola joined NGX in 2021 as CEO from Renaissance Capital (Rencap), the place he was Managing Director and CEO for West Africa.
He graduated with a firstclass diploma in Chemical Engineering from the College of Lagos and obtained a grasp's diploma from the Massachusetts Institute of Know-how. He’s a Chartered Monetary Analyst and a Chartered Stockbroker.
As well as, Chiemeka, who’s presently Govt Director of Capital Markets and liable for buying and selling, product growth and listings at NGX, has nearly 30 years of expertise in securities buying and selling and asset administration throughout varied markets in Africa.
Previous to becoming a member of NGX, he was MD/CEO of United Capital Securities, a subsidiary of United Capital Plc listed on NGX.
He’s a Fellow and Council Member of the Chartered Institute of Stockbrokers, Member of the Institute of Administrators, Fellow of the Affiliation of Funding Advisers and Portfolio Managers and Affiliate of the Licensed Pension Institute of Nigeria. He’s additionally an alumnus of the College of Lagos, Lagos Enterprise College and the College of Oxford, UK.
