Onyema elected to Board of World Exchanges

The Group Managing Director, Nigerian Exchange Group Plc (NGX Group), Mr Oscar Onyema has been elected to the prestigious Board of the World Federation of Exchanges (WFE) to represent Europe-Middle East-Africa (EMEA) region.

In a statement issued by NGX Group and made available to The Kernel last night, Onyema’s historic appointment was one of the topmost decisions taken at the virtual 60th General Assembly and Annual Meeting of WFE held between Sept. 6 and Sept. 9, coordinated from London.

By this election , which is a boost to the profile of the NGX in the international financial market, Onyema will serve on the WFE board for a three-year term.

“I am honoured to be elected to the board of the WFE which is the global group for exchanges and clearing houses (CCPs) around the world. This is an important achievement for Nigerian Exchange Group and the Nigerian financial market.

“It is an indication of our prominent regional and global position and a testament to our contributions to the WFE in respect of our input on issues confronting the African and global capital markets.

“ We are committed to fostering greater synergies between the WFE members and industry partners, and supporting the Federation to consolidate its position as the leading voice for exchanges and clearing houses, amongst global stakeholders,” said Onyema.

Commenting on Onyema’s election, the Chief Executive Officer, WFE, Ms Nandini Sukumar said: “The WFE welcomes Nigerian Exchange Group and Oscar Onyema, a leader and thinker, to the Board of Directors. As an industry, we will all benefit from the perspectives and insights he brings.

“We look forward to working even more closely with African markets in future and bringing more of them into WFE membership, and the standard that they represent.”

The NGX became a full member of the WFE since 2014, when it made history as the first West African exchange to be granted full federation membership status.

The WFE is the global industry group for exchanges and clearing houses (CCPs) globally, representing over 250 market-infrastructures including operators in the largest financial centres and those in frontier markets.