Onosode’s death leaves vacuum in Nigeria’s capital market

The demise of Gamaliel O. Onosode at 82 has created a vacuum in Nigeria’s capital market.  He was Nigeria’s first indigenous stockbroker who made major contributions to the Nigerian capital market.

Some of his accomplishments include chairing quoted companies across diverse sectors, including blue chip firms like Cadbury; founding the first indigenous stockbroking firm, Nigeria Stockbrokers Limited, where he was chairman until his death.

Onosode also acted as the inaugural chairman of the Investors’ Protection Fund (IPF) of the Nigerian Stock Exchange (NSE). He was former council member, the Nigerian Stock Exchange; Council Member, Chartered Institute of Stockbrokers; chairman, Board of Fellows, Chartered Institute of Stockbrokers.

Commenting on the development, Oscar Onyema, CEO, NSE, said: “We received the saddening news of Gamaliel Onosode’s death. This is a great loss to the Nigerian capital market.”

Onyema said, “He was an exceptional, forthright and inspirational leader whose life exemplifies all the values dear to the NSE. He was a man of integrity and the best we could find as the chairman of the Board of Trustees for the NSE’s Investors’ Protection Fund, when we decided to re-operationalise the Fund in 2012.

“We will sorely miss him. However, we take solace in his laudable achievements, which will remain indelible in the annals of Nigeria’s history. On behalf of the Council, Management and Members of the NSE, we offer our heartfelt condolence to the Onosode Family. Our thoughts and prayers are with them at this challenging time.”