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NSE Council: The New Leadership Emerges

 

Lagos, Nigeria, August 6, 2009 1340hrs: The Nigerian Stock Exchange successfully held its 48th Annual General Meeting at a well attended event where all the past presidents and distinguished members of the investment community and dealer members showed the clearest indication of their determination to move the market forward.



Dr. Oba Otudeko, OFR, the outgoing President of the council of the stock exchange conducted a flawless meeting which proshare streamed live from the venue - http://www.proshareng.com/newsletter/avp.php



At the end of the day, the following officers were appointed to lead the council of the Nigerian Stock Exchange:

1. Alhaji Aliko Dangote, CON former 1st Vice President now becomes the President

2. Chief Reginald Abbey-Hart,JP, former 2nd Vice President now becomes the 1st Vice President

3. Dr. Erastus B. O. Akingbola, MON, former Chairman of the Lagos/Ibadan Branch/Zone now becomes the 2nd Vice President



At the AGM, the outgoing president commended the role played by the Director General/CEO of the Nigerian Stock Exchange; Prof. (Mrs) Ndi Okereke-Onyiuke, PhD, OON in stabilising the markets during the difficult times it is in.



The new president in his first remarks equally thanked the amazon of the exchange, for her tireless work and the exchanges desire to embrace reforms.



Finally, The subject of de-mutualisation and de-materialisation was equally laid to rest as the exchange confirmed that these two initiatives is still on-going and would be presented to the market once on-going discussions with the Securities & Exchange Commission is concluded.



Today represents a significant day in the annals of the exchange. We however retain a watching brief.
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   Displaying 10 Latest Comments
  Emmanuel Ariyibi   "Dangote is the new NSE President" will be an appriopriate headline. Proshare is breaking this news yet it is the one through its recent articles prior to the election have been indicting Dangote through its write ups. And now Proshare is screaming the man's election and saying it is the beginning of a new dawn. What a huge contradiction that is why I said earlier on that Proshare is a fraud. Promoters of Proshare are fair weather friends. EA
 2009-08-06 14:29:13
  igna   We have neither shame nor morality in our society.
2009-08-06 14:31:30
  James Pibowei   Dangote is new NSE President is more apprioprate. "THE" should be removed.
 2009-08-06 14:34:47
  Emeka   Emmanuel, Proshare commenting its beginning of a new dawn reads ok to me. A new dawn is a "new tomorrow". It doesn't show their support or lack thereof for the new NSE President. Well done to the team for the (timely) updates.
 2009-08-06 14:35:04
  Semiu Akindele   Well done Proshare, You always give us latest news on the capital market. In respect of the NSE President elect Alhaji Dangote. I say Congratulation to the man. He deserve the post. He has contributed to the economic development of Nigeria. Do you know how many nigerians are benefiting from the man in term of employment. I will like the new President to improves upon activities of the NSE so as to be one of the best Capital markets in the world. I will like to thank Chief Oba Otudeko for job well done.
 2009-08-06 14:52:36
  eromosele sylvester   Thank God for He has come to the rescue of NSE thru Chief Dangote. He is not a magician anyway, But His presence will boost peoples confidence, and public perception of NSE. Let me warn that people should expect a drop in the prices of stocks. Because short-term investors will flood the market as the BULL is coming to the market now. Wise once will hold on, for the Bull to start playing. once again congratulation Nigerians, as we await the exit of those enemies ofthe peace of the NSE soon.
 2009-08-06 16:41:44
  Oluwatope Ayodeji   what is special that Alh. Dangote has to offer? I need someone to enlightening me before I can say whether the "New Dawn" portends goodies to the NSE.
 2009-08-06 17:51:12
  Adeyemi Okanlawon   @ Emmanuel Sir, those are quite heavy accusations that seem to have no facts. Kindly confirm which articles were indicting Dangote and of what. I have only seen Proshare post objective articles on issues relating to the NSE and not taking sides or using sensational headlines. You may want to confirm if the news you consider as negatively skewed was from other news media whose articles are also found on the Proshare website. PROSHARE REPORTS THE NEWS AS IT IS... PERIOD. I should know cos I work with Proshare!
 2009-08-06 18:46:43
  Olufemi AWOYEMI   To all commentators, I wish to thank you for the robustness of the debate where that is evident. For all who have taken out time to comment on this post, we thank you. As to the allegations of being against him and noe being for him; may i refer you to the blog post on SUSTAINED SELF INTEREST to read our position on the matter, weeks before the election. One thing we will not do on this free service is to invent the news or play to the gallery. we ratain a watchful eye on the market sensitivities on issues but will continue to use our access and analysis to promote the mission of being a bridge founded on realities. the Dangote presidency, like all other presidencies will be judged by results and its ability to move the market forward. That is a responsibility we keen to defend. The debate is healthy but I guess it is time to move on to other things like those we stated in the NCM 2009 report. We encourage you all to help us do better by participating in the NCM 2010 report. This market must not fail and you have a role to play in that. Your investments requires that as a minimum.
 2009-08-06 19:02:57
  Simeon Odesanya   What does Dangote have to offer? He lacks the intellectual sagacity to lead such a crucial exchange at this most critical time of global economic meltdown.I expect him to display mediocrity and lack of intellectual depth,and to use the position as a tool in crippling his business rivals.Let us expect more of share price manipulations and other such mischief from the fox in his desperate bid of self preservation and determination to be the major and only player in all spheres of the Nigerian economy.
 2009-08-06 19:29:50
 
 
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