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SEC Okays CEOs of Nigerian Exchange Group, Others

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Nigerian Exchange Group

By Dipo Olowookere

The appointments of the chief executive officers (CEOs) of the demutualised Nigerian Stock Exchange (NSE) have been approved by the Securities Exchange Commission (SEC).

Recently, the SEC, which is the highest regulatory body for the capital market in Nigeria, authorised the unbundling of the exchange after meeting all the requirements, including registering with the Corporate Affairs Commission (CAC).

This transformed the NSE into a non-operating holding company known as the Nigerian Exchange Group (NGX Group) and three operating subsidiaries Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory company; and NGX Real Estate Limited (NGX RELCO), the real estate company.

Mr Oscar Onyema, who had been the CEO of the NSE, was appointed as the Group CEO of the NGX Group, while Mr Temi Popoola was made the CEO of NGX and Ms Tinuade Awe chosen as the CEO of NGX RELCO.

In his remarks, the Chairman of the NGX Group, Mr Abimbola Ogunbanjo, stated that, “The confirmation of these appointments are an important step in the process of building a leading and resilient African exchange group following the completion of our demutualisation programme.

“I am delighted to continue working with Oscar Onyema, who has played a significant role in the reshaping of the exchange.

“As a proven business leader and strategic thinker, I am confident that he will elevate the NGX Group and its subsidiaries successfully into a new era of development.”

On his part, the Chairman of the NGX, Mr A.B Mahmoud, said: “The confirmation of the appointment of Temi Popoola as the first CEO of the Nigerian Exchange Limited comes at a pivotal moment for Nigerian capital markets as the Exchange enters a new phase of its history as a demutualised company, bringing to the exchange his track record of achievement local and global capital markets.

“He will focus on ensuring the exchange delivers an even higher level of service for all its participants and stakeholders, including investors, listed companies and brokers.

“I look forward to working with him and his team in the new dispensation as we move forward on implementing the group’s growth strategy.”

On the part of the Chairperson of NGX REGCO, Ms Catherine Echeozo, “The clear separation of the regulatory and business functions is an essential part of the group’s operations following demutualisation and the board was determined to ensure the selection of an experienced regulator for this task.

“I believe all the exchange’s stakeholders will welcome the announcement of Tinuade Awe as the first CEO NGX Regulation, given her prodigious experience and track record in capital markets regulation.

“Our stakeholders can continue to look forward to a robust and transparent regulatory regime under her leadership.”

Who they are

Oscar Onyema

Mr Oscar Onyema until his new appointment served as the CEO and member of the National Council of the exchange from 2011 – 2021.

In this role, he was responsible for supervising the general work of the exchange. He serves as the Chairman, Central Securities Clearing System Plc (CSCS), the clearing, settlement and depository for the Nigerian capital markets; and Chairman, NG Clearing, which is in the process of developing a Central Counterparty Clearing House (CCP).

In addition, Mr Onyema is a board member of the National Pension Commission of Nigeria (PENCOM) and sits on several advisory boards including the London Stock Exchange Group (LSEG) Africa Advisory Group (LAAG).

Prior to relocating to Nigeria, he served as Senior Vice President and Chief Administrative Officer at American Stock Exchange (Amex). He also ran the NYSE Amex equity business following the merger of NYSE Euronext and Amex in 2008.

His remarkable achievements have earned him awards such as the Special Recognition Award for transformational leadership in the Nigerian Capital Markets at Business Day Top 25 CEOs Award 2018.

In 2015 Forbes Magazine named him among the Top 10 Most Powerful Men in Africa. In the preceding year, he received the national honour of Officer of the Order of the Niger (OON) from the Federal Government of Nigeria.

Mr Onyema is an alumnus of Harvard Business School, The Wharton School, University of Pennsylvania and INSEAD International Directors Programme. He got his MBA from Baruch College, New York; and BSc degree from Obafemi Awolowo University, Ile-Ife. He is a Fellow of the Institute of Directors (IoD) Nigeria, Fellow of the Chartered Institute of Stockbrokers (CIS), Associate of the Chartered Institute for Securities & Investment (CISI) in the UK, and holds FINRA Series 7, 24, 63 qualifications in the United States.

Temi Popoola

Mr Temi Popoola is a successful C-suite leader whose unique blend of business acumen, financial expertise, global market growth and operational insight has earned him a reputation built on verifiable career achievements.

A Wall Street trained investment banker, Mr Popoola joins NGX Ltd from Renaissance Capital (Rencap) where he was Managing Director and CEO for West Africa.

He supported the continuous growth, profitability and success of the organisation by providing strategic market insight and leadership. He led the transformation of Rencap in West Africa by diversifying the company’s revenue streams into fixed income, derivatives, structured products, debt financing and wealth management.

In addition to influencing change across the organisation, he was responsible for overseeing a global workforce, expanding foreign investor capital opportunities into West Africa and introducing enduring business processes and strategic initiatives.

Since his return to Nigeria in 2009, Mr Popoola has also worked with United Bank of Africa (UBA) as Head of Structured Products for Global markets and with CSL Stockbrokers Ltd as Head of Sales and Trading. In both of these positions, he guided growth and advancement for investors across global markets, including South Africa, the UK, the Middle East and the US.

Mr Popoola began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York where he drove firm profitability by providing derivative solutions to US corporations and family offices.

He graduated with a First-Class degree in Chemical Engineering from the University of Lagos and holds a Master’s degree from the Massachusetts Institute of Technology (MIT). He is a Chartered financial analyst (CFA) and a Chartered stockbroker (CIS). He holds Series 7 and 63 licensures.

Tinuade Awe

Ms Tinuade Awe, prior to attaining her new position, was an Executive Director, Regulation at the exchange. She also served as the General Counsel and Head of the Legal and Regulation Division as well as Council Secretary before becoming an Executive Director.

Before joining the exchange, Ms Awe worked with the United Nations in The Hague and Geneva as well as the New York offices of the global law firm, Simpson Thacher & Barlett and Banwo & Ighodalo in Lagos, Nigeria.

As Executive Director, Regulation, she had responsibility for the regulation of the two primary stakeholder groups of the exchange, i.e., the dealing members that trade on the exchange and issuers that have securities listed on the bourse.

Her team was responsible for rulemaking and interpretation, monitoring, inspections, market surveillance, investigations, regulatory technology, and enforcement.

She is a non-executive director of the Central Securities Clearing System Plc (CSCS) and also a member of the board of the Financial Reporting Council of Nigeria (FRC).

She chairs the FRC’s Board Corporate Governance Committee, which has board-level responsibility to monitor the implementation of the National Code of Corporate Governance (NCCG).

Among other professional pursuits, Ms Awe was a member of the Nigerian Senate’s Technical Advisory Committee to review the Bill for an Act to Amend the Companies and Allied Matters Act and the Bill for an Act to review the Investment and Securities Act.

Ms Awe has an LL.B Degree from the Obafemi Awolowo University, graduating as the Best Female Student in the Faculty of Law. She finished at the Nigerian Law School with First Class Honours, graduating as Best Overall Student. She also holds LL.M Degrees from Harvard Law School, where she was a Landon H. Gammon Fellow, as well as The London School of Economics and Political Science (LSE), where she graduated with a Merit. At the LSE, she was a British Council Scholar. She is admitted to both the Nigerian and New York Bars.

Ms Awe is a member of the Nigerian Bar Association (NBA) and the International Bar Association. She is an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) and the Institute of Capital Market Registrars (ICMR). She is a Life Member of the Institute of Directors. She is the recipient of The African Legal Awards 2018, General Counsel of the Year; Law Digest Africa Awards, General Counsel of the Year 2018, and Esq. Nigeria Legal Awards, General Counsel of the Year 2017.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Jobs/Appointments

Insight Redefini Appoints Babatunde Olaifa Group CEO

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Babatunde Olaifa

By Modupe Gbadeyanka

Mr Babatunde Olaifa has been appointed as the new chief executive of a Nigerian integrated marketing communications firm, Insight Redefini Group.

Before his latest appointment, Mr Olaifa served as the Country Head of GoMyCode Nigeria, where he led initiatives focused on digital technology education and talent development.

He had earlier occupied leadership roles at X3M Ideas, Prima Garnet Ogilvy and Google, where he served as SMB Business Development Manager for Sub-Saharan Africa, helping to drive digital adoption and business growth initiatives across the continent.

Mr Olaifa’s career started at Insight Redefini, a member of Publicis Groupe, making his appointment as a return to where his professional journey began more than two decades ago and an opportunity to help redefine the role of marketing communications in a rapidly changing business environment.

“I am returning with a deeper understanding of the challenges businesses face today,” the new chief executive said.

“The world has changed dramatically. Consumers are more connected, markets are more volatile, technology is evolving at an unprecedented pace, and organisations are under increasing pressure to deliver measurable value. The role of agencies must evolve accordingly,” he added.

Mr Olaifa noted that many organisations today are navigating complex realities that extend beyond traditional marketing challenges, from digital transformation and changing consumer behaviour to operational pressures, data management, and business resilience.

“Businesses are looking for partners that can help solve real problems, not just create campaigns,” he said. “The opportunity before us is to combine creativity, technology, data, strategy and culture to help clients unlock growth and navigate complexity. That is where the future of our industry lies.”

He added that the convergence of technology, artificial intelligence and data presents a unique opportunity for marketing communications professionals to reclaim a more strategic role within organisations.

“For years, creativity has been our strength. Today, we have an opportunity to complement that strength with deeper business understanding, stronger analytical capabilities and emerging technologies that allow us to create greater value for clients. Technology is not replacing creativity; it is amplifying what creativity can achieve.”

Drawing from these experiences, Mr Olaifa said his focus will be on strengthening the group’s integrated capabilities while fostering a culture of innovation, curiosity and continuous reinvention.

“Insight Redefini has always been known for creativity, bold thinking and industry leadership. The next chapter is about building on that legacy while preparing for the future. We want to create an environment where talent can experiment, innovate and solve business challenges in new ways.”

“Our ambition is simple. We want to be indispensable to our clients. We want to be involved not only when a campaign is needed, but when business challenges need solving. We want to sit at the intersection of creativity, technology, culture and commerce, helping organisations navigate change and seize opportunities,” he further stated.

Insight Redefini Group said the appointment reflects its commitment to strengthening its position as an integrated growth partner for businesses across Nigeria and West Africa.

With access to the global capabilities, technology infrastructure, data intelligence and strategic resources of Publicis Groupe, the group said it remains focused on delivering connected solutions that help brands remain relevant, competitive and future-ready.

Insight Redefini Group is a member of Troyka Holdings, West Africa’s leading marketing communications and business solutions group. Its portfolio includes Insight Publicis, Leo Burnett Lagos, All Seasons Zenith, Starcom Media Perspectives, Quadrant MSL, Digitas and Publicis Nourish.

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Seplat Appoints Elumelu Chairman, Okon CEO as Roger Brown Bows Out

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tony elumelu

By Adedapo Adesanya

Seplat Energy Plc has announced a major leadership transition, appointing Mr Tony Elumelu as Chairman-designate and Mr Effiong Okon as incoming chief executive, as it pursues its long-term growth ambitions and 2030 strategic roadmap

The company disclosed that its current Chairman, Mr Udoma Udo Udoma, will retire from the board on December 31, 2026, after overseeing a significant period of strategic expansion, including the integration of Mobil Producing Nigeria Unlimited (MPNU) and the development of Seplat Energy’s 2030 strategic plan.

Mr Elumelu will take over on January 1, 2027, having joined the board at the beginning of the year after buying a 20.07 per cent stake in the local energy producer.

In a parallel leadership transition, the current chief executive, Mr Roger Brown, will retire on July 31, 2026, ending a 13-year tenure with the company, including six years as CEO.

Mr Brown played a pivotal role in Seplat Energy’s transformation, leading major acquisitions, including Eland Oil & Gas in 2019 and the landmark acquisition of MPNU in 2024.

In his place, Mr Okon, who currently serves as Managing Director of the ANOH Gas Processing Company, will take over on August 1.

The veteran brings more than 35 years of industry experience and has held several leadership positions within Seplat Energy and Royal Dutch Shell.

Speaking on his exit, Mr Brown said, “It has been the greatest pleasure to be part of Seplat Energy’s growth since joining in 2013 as CFO and having led the company as CEO since August 2020. I am immensely proud that we have built a company that has now become synonymous with financial resilience, balanced capital allocation, strong corporate governance and shareholder reward.”

Mr Udoma also said, “[Mr] Roger has been ever-present in Seplat Energy’s journey, and under his leadership, the company has materially outperformed the sector and delivered exceptional returns to shareholders. He leaves us well-placed to continue delivering for all our stakeholders.

“I would also like to welcome Mr Okon as our incoming CEO. He has extensive operational experience that will support our ambitious growth aspirations.”

On his part, the incoming CEO said: “I am delighted to be taking on this appointment at an important juncture. My immediate focus will be on ensuring the Company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”

Mr Elumelu said, “I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy’s next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat Energy’s culture of execution and governance aligns strongly with my own values.”

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Tinubu Swears in Power Minister, Minister of State for Foreign Affairs

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swear in Joseph tegbe Sola Enikanolaiye

By Modupe Gbadeyanka

President Bola Tinubu, on Monday, swore in Mr Joseph Olasunkanmi Tegbe as the new Minister of Power and Mr Sola Enikanolaiye as the Minister of State for Foreign Affairs.

A statement from the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, last night disclosed that the exercise took place at the Presidential Villa, Abuja, in the presence of the ministers’ spouses and senior government officials.

The new Ministers took the oaths of office yesterday after they were cleared by the Senate for the appointments on May 6, 2026.

Mr Tegbe was chosen to replace Mr Adebayo Adelabu, who resigned from the position to pursue a governorship ambition in Oyo State, while Mr Enikanolaiye was drafted to the current post after the elevation of Mrs Bianca Ojukwu to the position of the Minister of Foreign Affairs, following the resignation of Mr Yusuf Tuggar, who tried to clinch the governorship ticket of the All Progressives Congress (APC) in Bauchi State.

Mr Tegbe, born in Ibadan, Oyo State, is a renowned fiscal, economic and institutional reform strategist and stakeholder engagement expert with over 35 years of professional experience across the public and private sectors.

He holds a First Class Degree in Civil Engineering from Obafemi Awolowo University, a Master’s degree in Business Administration (Switzerland) and a Master’s degree in Public Administration (Birmingham).

He worked as a Senior Partner and Head of Advisory Services at KPMG in Africa, where he led transformational initiatives, including the design and implementation of major presidential reforms, the articulation and implementation of a strategy for subnational governments.

The Power Minister was also involved in fiscal policy restructuring at all levels of Government. He has worked with organisations such as the Nigerian Communications Commission, Nigerian Bulk Electricity Trading, Nigerian Electricity Regulatory Commission, Nigeria Revenue Service, Shell, Huawei, General Electric, MTN, and Odu’a Group, among others.

On his part, Mr Enikanolaiye from Igbagun, Kogi State, holds a First Class Degree in Political Science from Ahmadu Bello University, Zaria, and won the Dean’s Prize as the best student in his faculty. He also obtained a Master’s Degree in International Law and Diplomacy from the University of Lagos with Distinction.

He joined the Ministry of Foreign Affairs in August 1982 and rose to the position of Director. He was appointed Permanent Secretary of the Ministry in 2016, from which he retired on August 4, 2017, after 35 years in service.

As a career diplomat, Mr Enikanolaiye served in many of Nigeria’s diplomatic missions, notably Addis Ababa (Ethiopia), Belgrade (Serbia), Ottawa (Canada) and London (UK). His last foreign service posting was as Nigeria’s Head of Mission in New Delhi (India).

He is a recipient of several merit awards, including the Presidential Civil Service Merit Award, the Presidential Distinguished Public Service Career Award, and a Distinguished Fellow of the National Defence College, among others.

Mr Enikanolaiye was, until his appointment, the Senior Special Assistant to the President on Foreign Affairs and International Relations in the Office of the Chief of Staff to the President.

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