Nigerian Bourse Restructures, Creates New Units

By Sahabi Abdul

A new organizational structure is being implemented by the Nigeria Stock Exchange, with the emergence of two additional units.

Under the new system, the Nigerian Exchange Group Plc will have Oscar Onyema as the group chief executive officer. Temi Popoola will head the Nigerian Exchange Ltd., with Tinuade Awe running the NGX Regulation Ltd., according to a statement on the website of the exchange.

The Exchange group will operate as a holding company, with the others as its units. The changes are in furtherance of the demutualisation process instituted by the National Council of the stock Exchange.

“All the entities have been duly registered at the Corporate Affairs Commission,” the exchange said in the statement.

The appointments announced are also subject to approval by the capital markets regulator, the Securities and Exchange Commission.