Oscar Onyema ends 13-year tenure at NGX

The Nigerian Exchange Group, Association of Securities Dealing Houses of Nigeria, and various stakeholders recently gathered to commemorate the departure of Oscar Onyema, who served as the Group Chief Executive Officer of the Nigerian Exchange for 13 years. The event, a capital market pull-out ceremony, highlighted the significant achievements made during Onyema's tenure, particularly the demutualization of the exchange. This ceremony, a rare occurrence that only happens once every two decades, was a fitting tribute to Onyema's leadership and contributions to the Nigerian capital market. Onyema took on the role of CEO in 2011, amid challenges stemming from the aftermath of the 2008 financial crisis and a struggling stock market. Despite these hurdles, he successfully steered the exchange towards growth and modernization throughout his tenure. One of his pivotal accomplishments was the demutualization of the Nigerian Exchange Group, a move that expanded the market's capabilities, increased its market cap, and attracted new listings. Additionally, Onyema implemented significant changes to adapt to the COVID-19 pandemic, showcasing his agility and strategic vision. During the ceremony, speakers lauded Onyema for his transformative leadership, highlighting his role in advancing the exchange technologically, operationally, and strategically. Colleagues and stakeholders shared testimonials about Onyema's dedication and personal sacrifices, emphasizing his commitment to the institution's growth and success. Reflecting on his legacy, Onyema expressed gratitude for the opportunities to create lasting wealth for Nigerians and improve market integrity, all while ensuring a smooth transition of leadership. He emphasized the importance of succession planning and leaving a strong foundation for future leaders. As Onyema bid farewell to his role, stockbrokers gathered to serenade him with a farewell song, symbolizing the end of an era and the beginning of a new chapter for the Nigerian capital market. Despite his departure, Onyema remains optimistic about the exchange's future, urging stakeholders to continue driving innovation and growth in Nigeria's financial sector. The event concluded with the exchange's management outlining new objectives for growth and stability, setting the stage for continued success moving forward. As Onyema's legacy is celebrated and his contributions honored, the Nigerian Exchange Group looks ahead to a promising future under new leadership, inspired by his vision and dedication.