Jude Chiemeka appointed CEO of Nigerian Exchange
The Nigerian Securities and Exchange Commission (SEC) has approved the appointment of Mr. Jude Chiemeka as the Chief Executive Officer of Nigerian Exchange (NGX). This announcement marks a significant milestone in the leadership of Nigeria’s premier capital market platform.
Strategic Leadership Transition
Chiemeka has been serving as the acting CEO of NGX since January 1, 2024, following the transition of Mr. Temi Popoola to the role of Group Managing Director and CEO of Nigerian Exchange Group (NGX Group) Plc. The board of NGX Group confirmed that Chiemeka’s appointment officially took effect on July 1, 2024.
Alhaji Umaru Kwairanga, Group Chairman of NGX Group, highlighted the strategic nature of Chiemeka’s appointment, emphasizing its alignment with the group’s succession plan and its reinforcement of operational synergy across the organization. “Chiemeka’s extensive experience and proven leadership are invaluable assets that will drive NGX towards long-term success,” Kwairanga stated. “Under his leadership, I am confident that NGX will significantly contribute to sustainable growth for both Nigeria’s and Africa’s economies.”
Vision for Growth and Innovation
Mr. Ahonsi Unuigbe, Chairman of Nigerian Exchange (NGX), expressed the board’s satisfaction with Chiemeka’s confirmation, expecting him to drive growth and innovation, enhance operational perspectives, democratize investment in the capital market, and unlock opportunities for investors. “It is our hope and expectation that he will enhance our operational perspectives and democratize investment in the capital market,” Unuigbe said.
Mr. Temi Popoola, Group Managing Director of NGX Group, echoed these sentiments, noting Chiemeka’s deep understanding of the markets as crucial for NGX’s growth while aligning with the group’s broader strategy. “I look forward to working closely with him to unlock value and create new opportunities for stakeholders across the NGX Group ecosystem,” Popoola added.
Commitment to Stakeholders and Market Development
In his acceptance speech, Chiemeka expressed his honor at being appointed CEO during this pivotal time in NGX’s history. He assured stakeholders of his commitment to maximizing value and forging strong collaborations with NGX’s 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,” Chiemeka said.
A Rich Legacy of Experience
Chiemeka brings nearly three decades of experience in African securities trading and asset management to his new role. His career includes notable positions such as Executive Director of Capital Markets at NGX and Managing Director at United Capital Securities Limited. He has also worked with leading investment banking firms in Nigeria, including Chapel Hill Denham Securities and Rencap Securities (Nigeria).
A Fellow of the Chartered Institute of Stockbrokers (CIS), Chiemeka is an alumnus of the University of Lagos, Lagos Business School, and the University of Oxford, United Kingdom. His extensive background and expertise are expected to be instrumental in steering NGX towards new heights.
Enhancing Operational Efficiency
One of Chiemeka’s immediate goals is to enhance NGX’s operational efficiency through strategic initiatives and technological advancements. This includes leveraging cutting-edge technologies to streamline processes, improve market access, and provide robust investor protection mechanisms. The focus will be on creating a more transparent, efficient, and investor-friendly marketplace.
Democratizing Investment
A key aspect of Chiemeka’s vision for NGX is the democratization of investment. This involves making the capital market more accessible to a broader range of investors, including retail investors, by lowering barriers to entry and providing educational resources. By democratizing investment, NGX aims to foster a more inclusive financial ecosystem where more Nigerians can participate in and benefit from the capital market.
Strengthening Market Position
Under Chiemeka’s leadership, NGX will also focus on strengthening its market position both locally and internationally. This includes expanding its product offerings, attracting more listings, and enhancing its global partnerships. By positioning NGX as a leading exchange in Africa, the goal is to attract more foreign investment and promote cross-border trading.
Commitment to Sustainability
Chiemeka’s tenure is also expected to emphasize sustainability and environmental, social, and governance (ESG) principles. NGX aims to lead by example in promoting sustainable business practices and encouraging listed companies to adopt ESG standards. This commitment to sustainability aligns with global trends and investor preferences, ensuring that NGX remains relevant and attractive to a wide range of stakeholders.
Building Strong Collaborations
Another cornerstone of Chiemeka’s strategy is building strong collaborations with key stakeholders, including government agencies, regulatory bodies, market participants, and the broader financial community. These collaborations are essential for fostering a supportive ecosystem that promotes innovation, growth, and stability in the capital market.
