NGX Group announces key Board changes across subsidiaries

Nigerian Exchange Group Plc (NGX Group) has announced significant changes to the board of its subsidiaries, Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo), and NGX Real Estate Limited (NGX RelCo).

Effective September 27, 2023, NGX has appointed Ahonsi Unuigbe as its new Board Chairman, succeeding Abubakar Mahmoud (SAN) who has retired. Other transiting board members, Erelu Angela Adebayo, Kamarudeen Oladosu, Yomi Adeyemi, and Seyi Osunkeye have also retired from the Board.
Additionally, the shareholders of NGX approved the appointment of Jude Chiemeka as Executive Director, along with five Non-Executive Directors: Lilian Olubi, Azubuike Okpalaoka, Hamza Sule Wuro Bokki, Sehinde Adenagbe and Foluke Oyeleye.

Similarly, NGX RegCo welcomes Salamatu Suleiman as its new Board Chairman, effective September 30, 2023, succeeding Catherine Echeozo, who has retired. Foluke Oyeleye also resigned from NGX RegCo’s board following her appointment as a Director at Nigerian Exchange Limited. NGX RegCo’s shareholders have also approved the appointments of Olufemi Akinsanya as Non-Executive Director and Amina Mohammed as Independent Non-Executive Director.

Furthermore, Ngozichukwuka Edozien has been appointed as the new Board Chairman of NGX RelCo, effective October 7, 2023, succeeding Erelu Angela Adebayo, who has retired. Shareholders of NGX RelCo also approved the appointment of Fiona Ahimie as Non-Executive Director and two Independent Non-Executive Directors, Victor Alonge and Abdullahi Suleiman.

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Commenting on these appointments, Umaru Kwairanga, Group Chairman of NGX Group, stated, “I am delighted to announce these pivotal changes in the leadership of our subsidiaries, NGX, NGX RegCo and NGX RelCo. The appointments of Mr. Unuigbe, Dr. Suleiman and Ms. Edozien represent a defining moment in our journey. We have meticulously planned for this transition, and I have complete confidence that they will continue to uphold our tradition of excellence and steer our organizations toward even greater heights”.

He said Unuigbe, Suleiman and Edozien “bring a wealth of experience and a profound understanding of our industry’s dynamics. Their track records in service delivery make them ideal leaders for these roles. As we embark on a new chapter, we anticipate their contributions to be instrumental in realizing NGX Group’s ambitious growth strategy. Their expertise will unlock the full potential of our organizations and, in turn, benefit our valued investors and stakeholders”.

Kwairanga also extended his sincere gratitude to Mahmoud, Echeozo, Erelu Adebayo, and all the retired board members of the various subsidiaries for their enormous contributions and exceptional service. He remarked, “Their dedication and invaluable expertise have been instrumental in the Group’s journey, navigating through challenging economic and political landscapes. We extend our heartfelt appreciation for their remarkable accomplishments, which have had a lasting impact on the development and resiliency of our Group.”