Home News Oscar Onyema retires, NGX Group appoints Temi Popoola as GMD/CEO designate

Oscar Onyema retires, NGX Group appoints Temi Popoola as GMD/CEO designate

by Business News Report

Nigerian Exchange Group Plc, has appointed Mr. Temi Popoola as the GMD/CEO designate effective 1 January 2024, subject to the receipt of the Securities and Exchange Commission (SEC)’s No-Objection to the appointment. This appointment marks the succession to Mr. Oscar N. Onyema, whose tenure as GMD/CEO ends on March 31, 2024, following the commencement of his terminal leave on January 1, 2024. Mr. Temi Popoola is currently the CEO, Nigerian Exchange Limited (NGX) and a member of NGX Group Executive Committee chaired by Mr. Onyema.  He is a successful C-suite leader whose unique blend of business acumen, financial expertise, global market growth and operational insight has earned him a reputation built on verifiable career achievements. 

He began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York, where he drove firm profitability by providing derivative solutions to US corporations and family offices. A Wall Street-trained investment banker, Mr. Popoola joined NGX in 2021 as CEO from Renaissance Capital (Rencap) where he was Managing Director and CEO for West Africa. At NGX, he oversaw and supported its continuous growth, profitability and success by providing strategic market insight and leadership. Mr. Popoola graduated with a first-class degree in Chemical Engineering from University of Lagos and holds a Masters’ degree from Massachusetts Institute of Technology (MIT). He is a Chartered Financial Analyst (CFA) and a Chartered Stockbroker (CIS).

Consequently, Mr. Jude Chiemeka, Executive Director and Head of the Capital Markets Division, responsible for Trading, Products Development and Listings at NGX, has been appointed Acting CEO of NGX effective 1 January 2024. Commenting on the appointments, Alhaji (Dr.) Umaru Kwairanga, the Chairman of NGX Group Plc, stated, “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning. I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of The Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group from 2021 -2024.  Mr. Onyema led the stabilisation, growth, demutualisation and restructuring of The Nigerian Stock Exchange to NGX Group, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the Main Board of NGX.

I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.” The GMD/CEO, Mr. Oscar N. Onyema also commented as follows: “I am deeply appreciative of the privilege to have led The Nigerian Stock Exchange  as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO.

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