In anticipation of Mr. Oscar Onyema’s retirement as the Group Managing Director/Chief Executive Officer (GMD/CEO) of Nigerian Exchange Group Plc, the Board of Directors has formally designated Mr. Temi Popoola as the GMD/CEO designate, effective from January 1, 2024, subject to formal approval from the Securities and Exchange Commission (SEC).

Additionally, Mr. Jude Chiemeka has been assigned the role of Acting Chief Executive Officer (CEO) of Nigerian Exchange Limited (NGX), starting January 1, 2024.

This announcement was communicated to the investment public through the Group’s notice, following the SEC’s No-Objection to the decision.

Mr. Onyema, the current GMD/CEO, is set to conclude his tenure on March 31, 2024, with his terminal leave scheduled to commence on January 1, 2024.

Mr. Popoola, currently serving as the CEO at NGX and a member of the NGX Group Executive Committee under the leadership of Mr. Onyema, brings a wealth of experience to C-suite leadership. His successful career is marked by expertise in business acumen, financial proficiency, global market growth, and operational insight, establishing a reputation built on a history of accomplishments.

He embarked on his professional journey in London as a portfolio manager specializing in African energy markets and later held the position of senior equity derivatives trader at Bank of America Securities in New York. Throughout his tenure, he significantly contributed to the firm’s profitability by delivering derivative solutions to U.S. corporations and family offices.