Oscar Oyemah,NSE CEO Finishes Tenure

Mr. Oscar Onyema, CEO of the Nigerian Stock Exchange has ended his 10-year tenure as CEO. This was announced by the NSE in a statement issued by Mr. Olumide Orojimi, the Head of Corporate Communication on Tuesday.

Mr. Otunba Abimbola Ogunbanjo who is the Chairman of Nigerian Exchange Group said that a closing gong event was being held to mark Oscar Onyema's exemplary leadership, he issued a statement which reads, “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 10 years. After his first year of leadership, it became evident that his strategic mindset and mastery of Exchange business is what NSE dearly needs to rise to its next level of growth.

As anticipated, The Exchange went on to experience significant growth as the years passed by, most notable of which is the recent completion of the demutualization 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 speech, Mr. Onyema said, “I arrived at the NSE 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 am delighted to have worked with astute members of the national council, visionary leaders in the executive committee, and an expert crop of staff at The Exchange to have delivered excellent results. We have come a long way from where we used to be and I am excited about the opportunities demutualization has opened for us in the coming years.

“I must reiterate my commitment to ensuring that the NGX Group Plc and its subsidiaries deliver on the mandate to become Africa’s leading capital market infrastructure provider. I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear.”

Mr. Onyema is however not catching a break, as he is transitioning into the CEO of the Nigerian Exchange Group (NGX), which was created as the parent company for the NSE some time ago in a bid to demutualize. It will be operating under three subsidiaries:

1. Nigerian Exchange Limited (NGX), the operating exchange led by Oscar Onyema

2. NGX Regulation Limited (NGXRegCo), the independent regulatory arm led by Ms. Tinuade Awe

3. NGX Real Estate Limited (NGX RelCo), the real estate company led by Mr. Temi Popoola.

Oscar Onyema resumed as CEO of the NSE on the 4th of April 2011, before then, he had served in the United States financial markets. He was Senior Vice President and Chief Administrative Officer of the American Stock Exchange (Amex), becoming the first black person to hold that position.

Onyema is also Chairman, West African Capital Market Integration Council, and Chairman of Central Securities Clearing System (CSCS) Plc, amongst other positions.

He holds Financial Industry Regulatory Authority Series 7, 24, and 63 licenses, and is active in Security Traders Association of New York, and Securities Industry and Financial Markets Association.