Mr Jude Chiemeka has been appointed as the substantive chief executive of the Nigerian Exchange (NGX) Limited following the approval of the Securities and Exchange Commission (SEC).

Mr Chiemeka has been the acting chief executive of NGX Limited since January 1, 2024, but is now fully in charge of the company effective Monday, July 1, 2024.

He brings close to three decades of experience in African securities trading and asset management to his new role.

His career includes serving as Executive Director of Capital Markets at NGX and MD/CEO at United Capital Securities Limited.

He also worked at leading investment banking firms in Nigeria such as Chapel Hill Denham Securities and Rencap Securities (Nigeria).

A Fellow of the Chartered Institute of Stockbrokers, Mr Chiemeka is an alumnus of the University of Lagos, Lagos Business School, and the University of Oxford, UK.

Commenting on his appointment, Mr Chiemeka remarked, “I am honoured to be appointed as CEO of NGX at this critical period of the exchange’s history and my sincere appreciation goes to the boards of NGX Group and NGX.

“As we aim to build on our achievements and maximize value for all stakeholders, I look forward to forging strong collaborations with NGX’s exceptional team and the broader capital market community.

“We are committed to creating a more dynamic and inclusive exchange that fuels Nigeria’s economic growth and competes on the global stage.”

On his part, the Chairman of NGX Limited, Mr Ahonsi Unuigbe, said, “The board of NGX is pleased to confirm Mr Chiemeka’s appointment as CEO of the exchange.

“It is our hope and expectation that he will drive growth and innovation, enhance our operational perspectives, democratize investment in the capital market, and unlock opportunities for investors,”

Mr Chiemeka’s predecessor, Mr Temi Popoola, who is now the chief executive of NGX Group Plc, the parent company of NGX Limited, said, “I am delighted to see Mr Chiemeka step into the role of CEO of NGX.

“His extensive experience and deep understanding of our markets will be crucial in driving NGX’s growth while aligning with our broader group strategy. I look forward to working closely with him to unlock value and to create new opportunities for stakeholders across the entire NGX Group ecosystem.”

The chairman of NGX Group, Mr Umaru Kwairanga, said, “This strategic appointment aligns perfectly with our succession plan and reinforces the synergy we continuously foster across our group operations.

“Mr Chiemeka’s extensive experience and proven leadership qualities are invaluable assets that will propel NGX towards long-term success.

“Under his leadership, I am confident that NGX will play an even more pivotal role in contributing to the sustainable growth of Nigeria’s and Africa’s economies.”