Aig-Imoukhuede becomes NSE president

The Council of the Nigerian Stock Exchange (NSE) yesterday appointed former Group Managing Director/Chief Executive Officer of Access Bank Plc, Mr.  Aigboje Aig-Imoukhuede, the president of  the exchange. His appointed made after the 53rd annual general meeting (AGM) of NSE in Lagos, followed the decision of Alhaji Aliko Dangote to step down as the president of the Nigerian bourse.

Although Dangote’s tenure ought to expire next year, he decided to step down to pursue his business expansion across Nigeria and Africa.

Consequently, Aig-Imoukhuede, who was the first vice-president was elected to take over the leadership of the exchange. Mr. Abimbola Ogunbanjo and Mr. Abubakar Mamoud were also elected first vice and second vice presidents respectively.

Speaking on the future of the NSE without him on the council, Dangote said “I have confidence in the executive team of as well as in the council and the members of the exchange to ensure my successor continues to move the NSE and the Nigerian capital market forward, towards becoming a regional force in the global financial market place.”

According to him, the year ended December 31, 2013  was another year of significant progress.

“At our bourse, we centred our attention on executing our transformation agenda and on further development of the capital market. We focused our priorities on enforcing the rules that govern the market place, we succeeded in providing an enabling platform to operate an efficient market and we delivered on our promise to achieve a higher level of transparency,” he said.

In his report, the Chief Executive Officer of the NSE, Mr. Oscar Onyema said the exchange delivered a strong performance underlined by continued successful execution of  its transformation agenda.

He disclosed that  NSE’s operating surplus jumped 183 per cent to N3.26 billion in 2013, from N1.18 billion the previous year.

“We attribute the group’s stellar performance to improved operational efficiencies and our revenue diversification strategies, resulting in an increased share of income from other revenue streams. We remain firmly focused on cost discipline and on improving operational efficiencies,” Onyema said.

[This Day]