Demutualisation: NSE announces chief executives for emerging entities

Demutualisation: NSE announces Chief executives for emerging entities

The National Council of The Nigerian Stock Exchange (NSE) has announced three principal executives to head the three subsidiaries of demutualised Nigerian Stock Exchange (NSE) upon the completion of its ongoing demutualisation.

The three non-operating Companies are the Exchange Group Plc, Nigerian Exchange Limited and NGX Regulation Limited.

According to a statement from the exchange on Wednesday, Oscar Onyema has emerged the Group Chief Executive Officer of the Exchange Group Plc.

While Temi Popoola emerged as the Chief Executive Officer of the Nigerian Exchange Limited, Tinuade Awe is the Chief Executive Officer of NGX Regulation Limited.

“These appointments are subject to the approval of the Securities and Exchange Commission,” according to a the statement.

Under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group plc (NGX Group) has been created.

The Group will have three operating subsidiaries – Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory arm; and NGX Real Estate Limited (NGX RELCO), the real estate company – forming the group.

All the entities have been duly registered at the Corporate Affairs Commission (CAC).