Demutualisation: Onyema completes 10-year tenure as CEO of NSE

The Nigerian Stock Exchange (NSE) says Oscar Onyema has completed his 10-year tenure as chief executive officer of the local bourse.

In a statement on Tuesday, it said following the demutualisation of the exchange, Onyema has transitioned from CEO of NSE to the group chief executive officer of Nigerian Exchange (NGX) Group.

According to the statement, in commemoration of Onyema’s “exemplary leadership”, he was honoured with a digital closing gong ceremony on April 1, 2021.

Speaking at the closing gong ceremony, Otunba Ogunbanjo, chairman of NGX Group, said: “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 demutualisation 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”.

In his remarks, Onyema said: “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 look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear”.

The demutualisation of NSE led to the emergence of the NGX Group and three subsidiaries, namely the Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited, and NGX Real Estate (NGX RelCo) Limited.