The Nigerian Exchange Group has unveiled Temi Popoola as the Group Managing Director/Chief Executive Officer-designate, ushering in a new chapter as the current GMD, Oscar Onyema, prepares for retirement next year.
In an official statement endorsed by the Group Company Secretary, Obehi Ikhaghe, the appointment is slated to take effect on January 1, 2024. Simultaneously, Jude Chiemeka, the Executive Director of Capital Market at the exchange, steps into the role of Acting CEO of Nigerian Exchange Limited.
The statement highlights, “Further to the receipt of the Securities and Exchange Commission’s No-Objection to the announcement of the appointment, Nigerian Exchange Group Plc is pleased to announce the appointment of Mr. Temi Popoola as GMD/CEO designate effective 1 January 2024 subject to SEC’s formal approval of the appointment.
Adding to the dynamic changes, it reveals, “Mr. Jude Chiemeka has also been appointed as the Acting Chief Executive Officer of Nigerian Exchange Limited effective 1 January 2024.”
With Onyema set to conclude his tenure on March 31, 2024, and embarking on terminal leave from January 1, 2024, the Chairman of NGX Group, Dr. Umaru Kwairanga, expresses elation, stating, “I’m delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning.
Kwairanga continues, I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of the Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group Plc from 2021 -2024.
“Mr. Onyema led the stabilisation, growth, demutualisation and restructuring of The Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.
“I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”
Reflecting on his journey, Onyema expresses deep appreciation, saying, “I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”
GMD/CEO designate, Popoola, embraces the role with a sense of responsibility, stating,
I’m deeply appreciative of the privilege to have led The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO. I extend my best wishes to Mr. Popoola, and have full confidence in his capabilities to continue the legacy and growth of NGX Group. I am grateful for the support and dedication of the entire team at NGX Group and capital market stakeholders throughout my tenure. Together, we drove significant development in the African capital markets, and I am proud of the various accomplishments we have achieved since 2011.
“As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”
Providing insights into the CEO-designate, Popoola, the profile reveals his diverse background, from being a portfolio manager in London to a senior equity derivatives trader in New York. He joined NGX in 2021 from Renaissance Capital, where he served as the Managing Director and CEO for West Africa.
As for Chiemeka, the Executive Director of Capital Markets at NGX, his nearly 30 years of experience in Securities Trading and Asset Management across African markets position him as a formidable leader. Prior to NGX, he served as the MD/CEO of United Capital Securities.
