Jobs/Appointments
NGX Limited Appoints Chiemeka Acting CEO, as Popoola Heads NGX Group
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.”
By Modupe Gbadeyanka
The former Governor of Ekiti State, Mr Ayodele Fayose, has been appointed by President Bola Tinubu as the chairman of the Rural Electrification Agency (REA), with immediate effect.
A statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Monday night said Mr Tinubu also made 25 other new appointments into 10 federal government agencies and commissions.
Also appointed was Major General Junaid Bindawa as chairman of the National Salary and Wages Commission.
On the board of REA are Mr Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta as members and non-executive directors. The incumbent DG of the agency, Abba Abubakar Aliyu, and three executive directors previously appointed make up the remaining board members.
President Tinubu made eight other appointments to the Wages Commission, along with Mr Bindawa. Former member of the House of Representatives from Lagos, Olajumoke Okoya-Thomas, is the new secretary of the commission. Dr Ogbole Ene Lilian, Oladele Olatubosun, and Yakubu Umar Barde, representing Benue, Oyo and Kaduna, were appointed as commissioners.
Dr Mai Adamu Yau, from Borno, Ginika Florence Tor (Enugu), Engineer Lawrence Okoh (Edo) and Bello Morenike Iyabode (Kogi) were appointed as members of the commission.
Tosin Johnson Adeyanju, who was previously appointed as the Executive Secretary of the National Lottery Trust Fund (NLTF), has now been moved to the Revenue Mobilisation and Fiscal Commission as Secretary.
Mr Tinubu also appointed Dr Abuh Mohammed as the DG of the National Population Commission, Dr Akinola Odeyemi as Managing Director of the Nigerian Bulk Electricity Trading (NBET), and Dr Anthony Inalegwu Godwin as chairman/CEO of the Nigeria Atomic Energy Commission. Engineer Julius Oloro, a former council chairman, is the new CEO of the Kwara-based National Centre for Agricultural Mechanisation (NCAM), replacing Dr A.R. Kamal, who died last January.
The President constituted the board of the Fiscal Responsibility Commission, with Dr Abdullahi Maikano Saidu as chairman. Members include Mohammed Asmau, Mohammed Aliyu Makama, Dr Suleiman Gidado, Louis O. Ndukwe, Amaechi Ugwele and Olaniyi Idowu Onikola.
Shuni Muhammad Dahiru is the new executive secretary of the National Commission for Mass Literacy, Adult and Non-Formal Education, replacing Professor Shu’aibu Shehu Aliyu, who was reassigned to the Petroleum Trust Development Fund (PTDF) in April.
To replace Mathias Byuan, the former executive director, finance of the Federal Housing Authority, who resigned to contest the governorship election in Benue, President Tinubu named Gisaor Vincent Iorja. The new occupier of the position is an economist, legal scholar, and academic currently serving as the secretary of the Benue State Independent Electoral Commission (BSIEC).
By Aduragbemi Omiyale
In line with the 12-year tenure prescribed for non-executive directors of banks by the Central Bank of Nigeria (CBN), Mr Tony Elumelu will on August 21, 2026, cease to be chairman of United Bank for Africa (UBA) Plc.
The board of the financial institution at its meeting on July 6, 2026, has elected Mr Emmanuel Nnorom as the new chairman.
In a notice to the Nigerian Exchange (NGX) Limited, the lender said Mr Elumelu’s successor, a non-executive director of the company, will assume the new role on August 21, 2026.
Mr Nnorom is a chartered accountant with over 40 years of experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.
“I look forward to working with my colleagues on the board, management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” Mr Nnorom stated.
Commenting on his retirement, Mr Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career.
“UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
The board thanked him for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
By Adedapo Adesanya
WACT-APM Terminals Nigeria has announced the appointment of Mr Courage Obadagbonyi as Managing Director, effective July 1, 2026, succeeding Mr Jeethu Jose and becoming the first Nigerian to hold the post.
The appointment reflects the organisation’s continued focus on developing strong leadership from within its global talent pool while ensuring sustained growth and operational excellence.
A seasoned executive with more than two decades of international experience, Mr Obadagbonyi has held leadership roles across finance, operations and general management at leading global organisations, including APM Terminals, General Electric and Lafarge.
Prior to this appointment, he served as Chief Financial Officer (CFO) for the APM Terminals Nigeria cluster, with responsibility for financial strategy across Nigeria and San Pedro, Côte d’Ivoire.
He also served in an acting capacity as Managing Director of APM Terminals Apapa between 2025 and March 2026, further strengthening his operational leadership experience.
With experience spanning sectors such as oil and gas, power generation, logistics and healthcare, Mr Obadagbonyi brings deep expertise in financial management, risk optimisation and business performance.
Speaking on his appointment, he said, “I look forward to building on the strong foundation already in place at WACT. The terminal plays a critical role in connecting businesses in Eastern Nigeria to global markets, and we will continue to focus on safe, reliable and efficient operations.”
On his part, the Chief Executive Officer of APM Terminals Nigeria, Mr Frederik Klinke, noted that the appointment reflects the company’s commitment to leadership development and long-term growth.
“Across APM Terminals globally, we see strong collaboration and talent development across our teams. This appointment reflects the depth of experience within our organisation and our continued focus on building capabilities that support sustainable growth. Nigerians have continued to distinguish themselves through exceptional performance and leadership. Colleagues from our Apapa and Onne terminals have contributed their expertise internationally while also bringing back valuable best practices to strengthen operations in Nigeria.”
He added that Mr Obadagbonyi’s experience would support the next phase of operational excellence and value delivery at WACT.
The outgoing MD, Mr Jose, said, “It has been a privilege to lead WACT-APM Terminals Nigeria during a period of meaningful progress. The team has built a strong platform for the future, and I am confident in the continued success of the organisation.”
West Africa Container Terminal (WACT)-APM Terminals in Onne, Rivers State, is one of Nigeria’s leading container terminals, having commenced commercial operations in 2006.
The company has continued to invest in capacity expansion and modernisation, including a $115 million terminal upgrade project launched in 2020. The upgrade also includes the deployment of reefer racks with a 600-plug capacity, as well as the expansion of the existing yard, a new workshop, a new terminal auto gate, modernised offices and state-of-the-art technology. These investments have enhanced efficiency, strengthened service delivery and reinforced WACT’s role as an important gateway for trade beyond Lagos.
