SEC BOARD RATIFIES SELECTION OF NSE CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR, INFORMATION TECHNOLOGY AND MARKET OPERATIONS
The Board of the Securities and Exchange Commission (SEC) at its 56th meeting held on Tuesday, January 18, 2011, ratified the selection of Mr. Oscar N. Onyema as the new Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE). The selection of Mr. Ade Bajomo as Executive Director (ED), IT and Market Operations was also ratified by the Commission.
The NSE had in separate letters to the Commission on December 21, 2010 and January 13, 2011 conveyed the unanimous decision of the Council to appoint Mr Oscar Onyema as Chief Executive Officer and Ade Bajomo as Executive Director, IT and Market Operations.
The Commission is extremely pleased with the rigorous and transparent executive selection process implemented by the NSE. The SEC urges the NSE Council to conclude the executive selection process for the other two positions, namely Executive Directors for Strategy & Business Development and Quotations and Listings.
Mr. Onyema has a wealth of experience transforming Exchanges and comes with a deep domain knowledge of broker-dealer business across equity and fixed income markets. In addition, his referees described him as having exemplary leadership skills and being of the highest integrity. We expect that these attributes will be important for the transformation of the Nigerian Stock Exchange and the restoration of investor confidence in the Nigerian capital market.
Mr. Onyema has several years experience in the financial services industry, the bulk of which was spent at the New York Stock Exchange (NYSE) and the American Stock Exchange (Amex) in senior management positions. Onyema is a member of the Securities Traders Association of New York and the Securities Industry and Financial Markets Association (SIFMA).
He holds a B.Sc Computer Engineering degree from the University of Ife, Ile Ife, Nigeria and an MBA in Finance and Investments from the Ziklin School of Business, Baruch College, New York.
Mr. Bajomo, the candidate selected for ED, IT & Market Operations,has a distinguished career in Information Technology in the financial services industry in the United Kingdom (UK). He is an executive operations and technology leader with achievements in the development and implementation of business aligned technology strategies, efficient service delivery and programme management within major financial organizations in the UK.
Mr Bajomo is currently Head, IT programmes and Business Transformation, Africa and Indian Ocean, Barclays Bank, United Kingdom.
He holds a B.Sc degree in Engineering from University of Ife, an M.Sc with distinction in Information Systems from South Bank University, UK and an MBA from City University (CASS) Business School, London.
The Commission is optimistic that Messrs Onyema and Bajomo would bring their professional experiences and expertise to bear in transforming the Nigerian Stock Exchange into a world class exchange.
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Securities and Exchange Commission