Nigeria Commodity Exchange appoints CBN's Ahmad Chairman, 2 other directors

The appointment was announced after an extra ordinary meeting of the NCX on January 4, 2022, in Abuja, where all the shareholders unanimously approved the resolutions.

Nigeria Commodity Exchange (NCX) Plc has appointed three new directors with Aisha Ahmad, deputy director, financial systems stability Directorate of the Central Bank of Nigeria (CBN) as the chairman.

The appointment was announced after an extra ordinary meeting of the NCX on January 4, 2022, in Abuja, where all the shareholders unanimously approved the resolutions.

Other two directors are Angela Sere-Ejembi, and Phillip Yila Yusuf. “Ahmad was subsequently appointed chairman of the Board at the inaugural board meeting, which also held on January 4, 2022.
Additional Board appointments will be made in due course, ” a statement signed by Abiodun Sanusi, acting head, corporate communications, said.

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According to the statement, a newly constituted board along with a transition management team headed by Elenwor Ihua, acting as interim coordinator, will temporarily oversee the operations of the Exchange, supervising an independent and transparent process to appoint a new executive management team.

The core shareholders of the NCX thank the outgoing Board and executive management for their patriotic service to the company and wish them all the best in their future endeavors.

This development marks a critical milestone in the journey to transform the NCX into a world-class commodity trading company within the African and global commodity markets, the statement said.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.