NGX Group announces board changes across subsidiaries

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Lagos, Oct. 9, 2023 – The Nigerian Exchange Group has made changes in the board of its subsidiaries – Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo) and NGX Real Estate Limited (NGX RelCo).

NGX has appointed Mr. Ahonsi Unuigbe as its new board chairman, succeeding Mr. Abubakar Mahmoud, who retired on Sept 27..

Other transiting board members, Erelu Angela Adebayo, Mr. Kamarudeen Oladosu, Mr. Yomi Adeyemi and Mr. Seyi Osunkeye have also retired from the board.

The shareholders of NGX have approved the appointment of Mr. Jude Chiemeka as Executive Director, along with five Non-Executive Directors: Mrs. Lilian Olubi, Mr. Azubuike Okpalaoka, Dr. Hamza Sule Wuro Bokki, Mr. Sehinde Adenagbe and Mrs. Foluke Oyeleye.

Similarly, NGX RegCo welcomes Dr. Salamatu Suleiman as its new board chairman effective from Sept. 30, succeeding Mrs. Catherine Echeozo, who has retired.

Mrs. Foluke Oyeleye has also resigned from NGX RegCo’s board following her appointment as a director at Nigerian Exchange Limited.

NGX RegCo’s shareholders have also approved the appointments of Mr. Olufemi Akinsanya as Non-Executive Director and Mrs. Amina Mohammed as Independent Non-Executive Director.

Ms. Ngozichukwuka Edozien has been appointed as the new board chairman of NGX RelCo, effective from Oct. 7, succeeding Erelu Angela Adebayo, who has retired.

Shareholders of NGX RelCo also approved the appointment of Mrs. Fiona Ahimie as Non-Executive Director and two Independent Non-Executive Directors, Mr. Victor Alonge and Mr. Abdullahi Suleiman.

Commenting on these appointments, Alhaji Umaru Kwairanga, the Group Chairman,  said: “I am delighted to announce these pivotal changes in the leadership of our subsidiaries, NGX, NGX RegCo and NGX RelCo.

The appointments of Mr. Unuigbe, Dr. Suleiman and Ms. Edozien represent a defining moment in our journey.

We have meticulously planned for this transition, and I have complete confidence that they will continue to uphold our tradition of excellence and steer our organizations toward even greater heights.

Mr. Unuigbe, Dr. Suleiman and Ms. Edozien bring a wealth of experience and a profound understanding of our industry’s dynamics.

Their track records in service delivery make them ideal leaders for these roles. As we embark on a new chapter, we anticipate their contributions to be instrumental in realizing NGX Group’s ambitious growth strategy.

Their expertise will unlock the full potential of our organizations and, in turn, benefit our valued investors and stakeholders.

Kwairanga extended his sincere gratitude to Mr. Mahmoud, Mrs. Echeozo, Erelu Adebayo, and all the retired board members of the various subsidiaries for their enormous contributions and exceptional service.

“Their dedication and invaluable expertise have been instrumental in the Group’s journey, navigating through challenging economic and political landscapes.

“We extend our heartfelt appreciation for their remarkable accomplishments, which have had a lasting impact on the development and resiliency of our Group.” (GBN)

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