Wednesday, Jun 26th 2019 4:48 AM

Market Digest Nigeria


Ogunbanjo Emerges as NSE President,Aig-Imoukhuede Bows Out

The Nigerian Stock Exchange (NSE) on Monday announced the emergence of Mr Abimbola Ogunbanjo as the new President of National Council of the Exchange. The exchange, in a statement, said that the election of Ogunbanjo was reached at its council meeting immediately after its 56th Annual General Meeting in Lagos.

It stated that Ogunbanjo would replace Mr Aigboje Aig-Imoukhuede, who bowed out after completion of his three-year tenure as president. It added that Aig-Imoukhuede would continue to serve on the National Council as an ex-officio member, pursuant to its Article of Association. They added that Ogunbanjo, who joined the council in 2011, had been the First Vice President since 2014. He is the Chairperson of the demutualisation Advisory Committee of the NSE and currently serves as the Managing Partner of the renowned leading corporate law firm of Chris Ogunbanjo & Co (Solicitors).

The statement said that Mr Abubakar Balarabe Mahmoud, SAN, current President of the Nigerian Bar Association (NBA) and one of the founding partners of the law firm of DIKKO & MAHMOUD, was elected as First Vice President. It added that Mrs Catherine Echeozo (Former Deputy Managing Director of GT Bank) was elected as Second Vice President.

Commenting on the recent development, Aig-Imoukhuede was reported by the statement as saying that robust succession planning framework ensured the emergence of Ogunbanjo. “I am delighted that our robust succession planning framework has ensured the emergence of a worthy successor in the person of Abimbola Ogunbanjo. His background as a legal practitioner and successful corporate player, combined with years of meritorious service as a council member, has equipped him with the knowledge and experience required to take the Exchange to higher levels of performance and development,” he said.

Mr Oscar Onyema, NSE Chief Executive Officer, also commended the outgoing President for his contributions, commitment and distinction in service.

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