NGX Group’s Leadership Transition: Popoola Named CEO Designate, Chiemeka as Acting CEO, Onyema’s Term Closure Approaches

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NGX Group Plc has named Mr. Temi Popoola as its Group CEO Designate, effective January 1, 2024, pending formal approval from the Securities and Exchange Commission (SEC). Concurrently, Mr. Jude Chiemeka has been appointed as the Acting CEO of Nigerian Exchange Limited (NGX) from the same date. The current GMD/CEO, Mr. Oscar N. Onyema, OON, is set to conclude his tenure on March 31, 2024, commencing his terminal leave on January 1, 2024.

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Mr. Popoola, currently serving as the CEO of NGX, brings a wealth of experience as a Wall Street-trained investment banker, with notable stints at Bank of America Securities and Renaissance Capital. His leadership at NGX since 2021 has contributed to the exchange’s growth and profitability. He holds a first-class degree in Chemical Engineering from the University of Lagos and a Master’s degree from the Massachusetts Institute of Technology.

Simultaneously, Mr. Jude Chiemeka, the Executive Director of Capital Markets at NGX, with over 29 years of experience in Securities Trading and Asset Management, assumes the role of Acting CEO. His prior role was MD/CEO of United Capital Securities, and he holds multiple fellowships and memberships in esteemed financial institutions.

The Chairman of NGX Group Plc, Alhaji (Dr.) Umaru Kwairanga, expressed satisfaction with the leadership changes, acknowledging Mr. Onyema’s impactful leadership. Mr. Onyema, in turn, commended the achievements during his tenure and expressed confidence in Mr. Popoola’s ability to carry forward the legacy.

Mr. Popoola, expressing gratitude and a sense of responsibility, highlighted the pivotal role played by Mr. Onyema in modernizing the Nigerian market infrastructure. He affirmed his commitment to building on this foundation and steering NGX Group to greater heights.

As the financial landscape undergoes these changes, stakeholders anticipate a smooth transition and continued growth under the new leadership.

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