NGX Group Appoints Popoola As GMD/CEO

Nigerian Exchange Group Plc has appointed Mr. Temi Popoola as its new GMD/CEO with effect from January 1, 2024.

Also, Mr. Jude Chiemeka has been appointed as the acting chief executive officer of Nigerian Exchange Limited (NGX) effective 1 January 2024. The current GMD/CEO of NGX Group, Mr. Oscar Onyema will finish his tenure on March 31, 2024, and ahead of this, he will embark on his terminal leave effective January 1, 2024.

NGX, in a release to the investing public, said: “Popoola is currently the CEO, NGX and a member of NGX Group executive committee chaired by Onyema. 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.”

It added that “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.”

Speaking on the appointments, the chairman of NGX Group Plc, Alhaji (Dr.) Umaru Kwairanga stated, “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning.

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“I would like to express my profound gratitude to Onyema for his stellar leadership first as the CEO of the Nigerian Stock Exchange from 2011 to 2021 and thereafter as the GMD/CEO of NGX Group from 2021 to 2024.

“Onyema led the stabilization, growth, demutualization and restructuring of the Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.”

He added that, “I have no doubt in Popoola’s capability to successfully continue the legacy Onyema has created, and take NGX Group to greater heights. I also firmly believe in Chiemeka’s ability to seamlessly assume leadership at NGX from Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”

Onyema stated that, “I extend my best wishes to Popoola, and have full confidence in his capabilities to continue the legacy and growth of NGX Group. 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.”

The GMD/CEO designate, Popoola said: “I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm. I am fully committed to building on the foundation laid out and taking NGX Group to greater heights.”