By Aduragbemi Omiyale
Mr Jude Chiemeka has been appointed as the acting chief executive of the Nigerian Exchange (NGX) Limited, a statement from the bourse on Friday confirmed.
His appointment will take effect from Monday, January 1, 2024, the disclosure signed by the company secretary, Obehi Ikhaghe, added.
Mr Chiemeka is taking over from Mr Temi Popoola, who has been appointed as the chief executive of NGX Group Plc. He will resume in the new office from next Monday, taking over from Mr Oscar Onyema, who retires from the company next year.
Mr Onyema is expected to retire from the organisation on March 31, 2024, but will embark on his terminal leave effective January 1, 2024.
Mr Chiemeka is currently the Executive Director of Capital Markets responsible for Trading, Products Development and Listings at NGX.
He is a member of the NGX Executive Committee chaired by Mr Popoola and has over 29 years of experience in Securities Trading and Asset Management across markets in Africa.
Prior to joining NGX, he was the MD/CEO of United Capital Securities, a subsidiary of United Capital Plc listed on NGX.
He is a Fellow and Council Member of the Chartered Institute of Stockbrokers (FCS), a Member of the Institute of Directors (IOD), a Fellow of the Association of Investment Advisers and Portfolio Managers and an Associate of the Certified Pension Institute of Nigeria. He is also an alumnus of the University of Lagos, Lagos Business School and the University of Oxford, UK.
As for Mr Popoola, he 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.
He 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.
A Wall Street-trained investment banker, Mr Popoola joined NGX in 2021 as CEO from Renaissance Capital (Rencap) where he was the Managing Director and CEO for West Africa.
At NGX, he oversaw and supported its continuous growth, profitability, and success by providing strategic market insight and leadership.
Mr Popoola graduated with a first-class degree in Chemical Engineering from the University of Lagos and holds a Master’s degree from Massachusetts Institute of Technology (MIT). He is a Chartered Financial Analyst (CFA) and a Chartered Stockbroker (CIS).
Commenting on the appointments, the Chairman of NGX Group, Mr Umaru Kwairanga, said, “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning.
“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.”
“I do not doubt 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,” he added.
On his part, Mr Onyema said, “I am 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.”
In his reaction, Mr Popoola said, “I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm. I extend my appreciation to Mr Onyema, for his exceptional leadership during his tenure and to the Board of Directors for the confidence reposed in me.
“I am also very confident in Mr Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights.”
Modupe Gbadeyanka