Osacar Onyema, NSE CEO to serve five more years as Exchange boss

Oscar Onyeama is set to commence a second five-year term as CEO of the Nigerian Stock Exchange (NSE) following  approval for renewal of his contract by the National Council of the Exchange. The renewal takes immediate effect.

Onyema has served as the CEO of the Exchange since April 2011 and his initial five years employment contract expires on March 31, 2016.

On assumption of the role of CEO in April 2011, Onyema developed the strategic plan to

transform the Exchange into a globally competitive brand by stabilising and professionalising the Exchange.

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.

This strategy became a five-year growth plan, that is running from 2015 to 2019 aimed at increasing the number of new listings across five asset classes  as well as the flow in the five asset classes; and operate a fair and orderly market, based on just and equitable principles.

Aigboje Aig-Imokhuede President of the National Council of the NSE, said “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, 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. ”

In recognition of Onyema’s contributions to Nigeria’s economic development and transformation of Africa’s capital markets, he was elected President of African Securities Exchanges Association (ASEA) in November 2014, demonstrating recognition and acceptance within the African region; and Chairman of West African Capital Markets Integration Council (WACMIC) for 2013 -2015, demonstrating sub regional pull and influence.

More so,  Onyema has represented the NSE on several boards and Government bodies including PENCOM, FMDQ OTC Plc, Central Securities Clearing System Plc (CSCS), Nigerian Capital Market Master Plan Implementation Council (CAMMIC), World Economic Forum (WEF) Global Agenda Council on Future of Financing and Capital, amongst others.

Iheanyi Nwachukwu