Aig formally takes over as NSE president

Former group managing director of Access Bank Plc, Mr. Aigboje Aig-Imoukhuede, is now officially the president of the Nigerian Stock Exchange (NSE).

He was confirmed on Wednesday by the national council of the NSE at the 53rd Annual General Meeting (AGM) in Lagos.

Aig-Imoukhuede took over from president of Dangote group, Alhaji Aliko Dangote, who held the position for about two years.

Dangote himself succeeded Mallam Ballama Manu who was the interim president of the council.

Dangote, whose company controls about 30% of market capitalisation, stepped down ahead of the end of a three-year tenure, which was supposed to end by 2015, to focus on his company’s expansion drive in Africa.

An alumnus of Harvard Business School’s Executive Management Programme, Aigboje Aig-Imoukhuede was the first vice-president of the council.

The national council also elected Abimbola Ogunbanjo and A. B Mahmoud as the first and second vice-presidents respectively.

Other members of the council include: Muhammad Daggash of Finmal Finance Services Limited (represented by Umaru Kwairanga); Greenwich Securities Limited (represented by Kayode Falowo); ICMG Securities Limited (represented by Michael Osime); Meristem Securities Limited (represented by Oluwole Abegunde); Sigma Securities Limited (represented by Dunama Balami) and Signet Investment and Securities Limited (represented by Oladipo Aina).

Meanwhile, the report of the national council, the financial statements of the exchange as at 31 December 2013, and the report of the auditors, were presented to the members as part of the ordinary business of the day.

The members also fixed the remuneration of the national council members and authorised them to fix the remuneration of the auditors.