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Demutualisation: NSE Announces Chief Executives for Emerging Entities

The National Council of The Nigerian Stock Exchange (NSE) has announced the following Chief Executives will head its operating and non-operating companies upon the completion of its ongoing demutualisation:

 EntityDesignationName
Nigerian Exchange Group PlcGroup Chief Executive OfficerOscar N. Onyema, OON
Nigerian Exchange LimitedChief Executive OfficerTemi Popoola
NGX Regulation LimitedChief Executive OfficerTinuade Awe

A statement issued by the Commission averred that these appointments are subject to the approval of the Securities and Exchange Commission. Under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group plc (NGX Group) has been created. The Group will have three operating subsidiaries – Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory arm; and NGX Real Estate Limited (NGX RELCO), the real estate company – forming the group. All the entities have been duly registered at the Corporate Affairs Commission (“CAC”).