The Nigerian Stock Exchange (NSE) has announced the retention of Oscar Onyema, as its chief executive officer, for another five-year term. Onyema became NSE’s CEO in April 2011 with the first term of a five-year contract expiring on March 31, 2016.
According to a statement issued by the exchange, Aigboje Aig-Imoukhuede, NSE president, said: “Mr. Onyema’s tenure as CEO of the NSE is marked by outstanding achievements. The Council is confident that he can continue The Exchange’s trajectory of transformation, innovation and marketplace recognition by implementing its business strategies which he has been instrumental in developing. The leadership qualities that he has demonstrated in his first term as CEO, in the face of such intense and challenging operating environment, have been exemplary. The Council believes that his vision and passion will ensure the Exchange remains a force to be reckoned with in Africa and beyond”.
Speaking on his contract renewal, Mr. Oscar Onyema said “I am honoured to remain with The Nigerian Stock Exchange and to continue to lead our dedicated staff as we strive to achieve the Exchange’s vision. I am grateful to the Council for the opportunity to continue such an important work. While there is still much to be accomplished, the support shown by the capital market community has been inspirational, and I look forward to working with the entire eco-system to meet our objectives.”
On assumption of the role of CEO in April 2011, Mr. Onyema developed the strategic plan to transform the Exchange into a globally competitive brand by stabilizing and professionalizing the Exchange. Mr. Onyema led the execution of the Exchange’s transformation strategy which resulted in over 365% increase in surplus, and 40% increase in NSE Group balance sheet size for the period. He has transitioned this strategy into a five year growth plan, 2015 to 2019 which will see the Exchange increase the number of new listings across five (5) asset classes; increase order flow in the five (5) asset classes; and operate a fair and orderly market based on just and equitable principles.