The Nigerian Stock Exchange (NSE) has approved the appointment of Oscar Onyema to a second five-year term as Chief Executive Officer of the Exchange effective immediately. Oscar Onyema has served as the CEO of the Nigerian Stock Exchange since April 2011 and his initial five-year employment contract expires on March 31, 2016.
Commenting on Onyema’s appointment, the President of the Exchange’s National Council, Aigboje Aig-Imokhuede, said: “Mr. Onyema’s tenure as CEO of the NSE is marked by outstanding achievements. The Council is confident that he can continue the Exchange’s trajectory of transformation, innovation and marketplace recognition by implementing its business strategies which he has been instrumental in developing. The leadership qualities that he has demonstrated in his first term as CEO, in the face of such [an] intense and challenging operating environment, have been exemplary. The Council believes that his vision and passion will ensure the Exchange remains a force to be reckoned with in Africa and beyond.”
Speaking on his new term, Oscar Onyema said: “I am honoured to remain with the Nigerian Stock Exchange and to continue to lead our dedicated staff as we strive to achieve the Exchange’s vision. I am grateful to the Council for the opportunity to continue such an important work. While there is still much to be accomplished, the support shown by the capital market community has been inspirational, and I look forward to working with the entire ecosystem to meet our objectives.”
Upon Onyema’s assumption of the NSE CEO role in April 2011, he developed the strategic plan to transform the Exchange into a globally competitive brand by stabilizing and professionalizing the Exchange. He has transitioned this strategy into a five-year growth plan, set for 2015 to 2019, during which the Exchange plans to increase the number of new listings across and trading activity in five asset classes. Additionally, the Exchange plans to continue to build on its goal of operating a fair and orderly market.
In November 2014, Oscar Onyema was elected President of the African Securities Exchanges Association (ASEA). He was also elected Chairman of the West African Capital Markets Integration Council (WACMIC) for the 2013 to 2015 period.
Oscar Onyema has represented the Nigerian Stock Exchange on a number of boards and government agencies, including Nigeria’s National Pension Commission (PenCom), Nigeria’s FMDQ OTC Securities Exchange, Nigeria’s Central Securities Clearing System (CSCS), Nigeria’s Capital Market Master Plan Implementation Council (CAMMIC) and the World Economic Forum’s Global Agenda Council on Future of Financing & Capital.
Prior to joining the Exchange in 2011, Oscar Onyema was a Senior Vice President at NYSE Euronext. Onyema was also a Senior Vice President at the American Stock Exchange (AMEX) before its acquisition by NYSE Euronext.
Onyema has a BSc in Computer Engineering from Obafemi Awolowo University. He also holds an MBA from City University of New York’s Baruch College. Onyema has also completed Harvard Business School’s Advanced Management Program (AMP).
Source: Africa Business