Kwairanga Emerges NGX Group’s Chairman

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Kwairanga Emerges NGX Group’s Chairman


A consummate Chartered Stockbroker and boardroom expert, Dr Kwairanga Umaru, was yesterday appointed the Chairman, Nigeria Exchange Group PLC ( NGX Group) while the President, Chartered Institute of Stockbrokers (CIS), Oluwole Adeosun is now the Vice Chairman for enhanced seamless succession in line with the principle corporate governance.

In a statement by NGX PLC , last night, Kwairanga emerged the substantive Chairman following the announcement of retirement of the erstwhile Chairman, Otunba Abimbola Ogunbanjo at the Group’s 61st Annual General Meeting (AGM) on Friday, last week and election of a Non-Executive Director, Mr Ikpobe Apollos as the Acting Chairman at the meeting.

“I am very excited to lead the execution of our corporate strategy and deliver world-class governance to the Group. I appreciate the Board for the confidence in my abilities to deliver on our mandate for the shareholders of NGX Group. I would like to thank our erstwhile Chairman, Mr Abimbola Ogunbanjo and our outgoing Acting Chairman, Mr Apollos Ikpobe for their outstanding and diligent service to the Company, and I promise to continue to deliver in line with their set standard of execution and delivery” says Kwairanga.

The Group Managing Director and Chief Executive Officer, NGX Group, Oscar Onyema, said “the appointment of Dr Umaru Kwairanga as the Group’s new Chairman is a positive step in the Group’s journey to delivering value to shareholders. As we move to execute our strategy aimed at maximizing outcomes for our shareholders. We would count on Dr Kwairanga’s wealth of experience in making strategic board decisions.”

As a novelty and In keeping with good governance ethos, the Board also created the position of Vice Chairman and appointed Mr. Adeosun, a Non-Executive Director of NGX Group to fill this position.

Dr Kwairanga, who promised to stabilize the relationship among all the stakeholders,
is a thoroughbred capital market professional with excellent corporate governance pedigree. He has 30 years of cognate experience, spanning banking, pensions, manufacturing and commercial sectors. He had served previously as a Council Member of the then Nigerian Stock Exchange and as member of the Board of Directors of NGX Group. He is currently a Council member of the Institute of Directors of Nigeria, and an active director of multiple listed and unlisted companies.

“The Board of NGX Group, in all its actions, continues to give utmost consideration to the role of NGX Group and its subsidiary companies, to act as key enablers of the smooth functioning of the Nigerian capital market and the broader economy.”, according to the statement.

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