Temi Popoola
Temi Popoola appointed as CEO designate of NGX Group. Temi Popoola has been named Group Managing Director/Chief Executive Officer-designate of the Nigerian Exchange Group, following the retirement of the current GMD, Oscar Onyema, next year.
The appointment takes effect on January 1, 2024, according to a statement signed by the Group Company Secretary, Obehi Ikhaghe, on Friday.
Jude Chiemeka, the exchange’s Executive Director, Capital Market, has also been named Acting CEO of Nigerian Exchange Limited.
“Further to the receipt of the Securities and Exchange Commission’s No-Objection to the announcement of the appointment, Nigerian Exchange Group Plc is pleased to announce the appointment of Mr. Temi Popoola as GMD/CEO designate effective 1 January 2024 subject to SEC’s formal approval of the appointment,” the statement said in part.
“Mr. Jude Chiemeka has also been appointed as the Acting Chief Executive Officer of Nigerian Exchange Limited effective 1 January 2024.”
It was reported that Onyema’s tenure will end on March 31, 2024, and that he will begin his terminal leave on January 1, 2024.
Umaru Kwairanga, Chairman of NGX Group, commented on the appointments, saying, “I’m delighted to announce these pivotal changes in the leadership of NGX Group, which is a testament to effective succession planning.” I’d want to thank Mr. Onyema for his outstanding leadership, first as CEO of The Nigerian Stock Exchange from 2011 to 2021, and then as GMD/CEO of NGX Group Plc from 2021 to 2024.
“Mr. Onyema oversaw the stabilisation, growth, demutualisation, and restructuring of The Nigerian Stock Exchange into NGX Group Plc, a public company limited by shares, a significant milestone in the organization’s history.” He also oversaw the Company’s listing on the NGX main board.
“I have no doubt in Mr. Popoola’s ability to successfully carry on Mr. Onyema’s legacy and lead NGX Group to greater heights.” I also have faith in Mr. Chiemeka’s capacity to effortlessly take over leadership of NGX from Mr. Popoola, building on his excellent successes and fostering continued capital market expansion.”
In his remarks, GMD/CEO Oscar Onyema stated, “I’m deeply grateful for the privilege of leading The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO.” I extend my best wishes to Mr. Popoola and have complete faith in his abilities to carry on the history and expansion of the NGX Group. Throughout my tenure, I am grateful for the support and devotion of the whole NGX Group team as well as capital market stakeholders. We pushed considerable progress in African capital markets together, and I am proud of the many achievements we have made since 2011.
“As I enter a new phase, I am committed to ensuring a smooth transition and look forward to seeing NGX Group continue to grow and prosper under Mr. Popoola’s leadership.” “The future looks bright.”
“I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm,” Popoola stated. I want to thank Mr. Onyema for his great leadership during his tenure, as well as the Board of Directors for their trust in me.
“Under Mr. Onyema’s leadership, the Nigerian market infrastructure space has been modernized, as has the demutualization and restructuring of the NSE, and I’m honored to carry on this legacy.” I am entirely committed to expanding on the foundation that has been created and driving NGX Group to new heights. I’m excited about the intriguing potential and challenges that lie ahead, thanks to the dedicated team’s support and partnership with the distinguished leadership.
“I am also very confident in Mr. Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights.”
According to the CEO-designate’s profile, he began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York, where he drove firm profitability by providing derivative solutions to US corporations and family offices.
Popoola joined NGX in 2021 as the CEO of Renaissance Capital (Rencap), where he previously served as the Managing Director and CEO for West Africa.
He graduated from the University of Lagos with honors in Chemical Engineering and possesses a Masters degree from the Massachusetts Institute of Technology. He holds the designation of Chartered Financial Analyst.
Chiemeka, who is currently the Executive Director of Capital Markets at NGX and is responsible for Trading, Product Development, and Listings, has nearly 30 years of expertise in Securities Trading and Asset Management throughout African markets.
Prior to joining NGX, he was the MD/CEO of United Capital Securities, an NGX-listed subsidiary of United Capital Plc.
He is a Chartered Institute of Stockbrokers Fellow and Council Member, an Institute of Directors Member, a Fellow of the Association of Investment Advisers and Portfolio Managers, and an Associate of the Certified Pension Institute of Nigeria. He also attended the University of Lagos, Lagos Business School, and the University of Oxford in the United Kingdom.