Nigeria: NGX CEO elected CSCS chairman

By InstinctBusiness Apr 9, 20240

Mr. Temi Popoola, the Group Managing Director/Chief Executive Officer of Nigerian Exchange Group, has been appointed as the Chairman of Central Securities Clearing System Plc, effective April 1, 2024. He succeeds Oscar Onyema, who retired after a tenure of 13 years as chairman.

In a statement released by the NGX Group on Monday, it was announced that Popoola, a seasoned financial expert, would bring extensive experience and expertise to his new role. He is recognized for his notable achievements in global market growth and operational insight.

Prior to his appointment as Chairman of Central Securities Clearing System Plc, Mr. Temi Popoola served as the CEO of the Nigerian Exchange Limited, where he played a pivotal role in guiding the exchange through numerous strategic milestones.

Commenting on his new appointment, Popoola noted, “As I step into the role of chairman at CSCS, I’m honoured and humbled by the opportunity to guide this esteemed organisation to new heights of success and impact.

“With a steadfast dedication to our mission and by building on the very strong foundation that has been laid, I am committed to working with my colleagues on the board, management, and staff to drive growth, foster innovation, and uphold the highest standards of integrity and excellence. Collaborating with all our stakeholders, I am confident that we will chart a course toward continued excellence, delivering value to our clients, shareholders, and the broader financial community.”

Joining Popoola on the board are the Chairman of the Association of Securities Dealing Houses of Nigeria, Samuel Onukwue and VFD Group CEO, Nonso Okpala.

“Their addition to the board is expected to further enrich the quality and the collegiate decision-making process at this level of leadership of the company,” the NGX Group statement partly read.

The CEO of Central Securities Clearing System Plc, Mr. Haruna Jalo-Waziri, welcomed new members of the firm’s board.

“We are confident that their addition to the board would further enrich the quality and the collegiate decision-making process at this level of leadership of the company,” he stated.

Jalo-Waziri extended sincere gratitude to Ms Tinuade Awe, Mr Seyi Owoturo, and Mrs Tairat Tijani, who also retired from the board along with Mr Onyema, for their outstanding service to the CSCS.