NGX CEO Elected Board Member, World Federation Of Exchanges

GROUP Managing Director/Chief Executive Officer, Nigerian Exchange  (NGX) Group Plc, Oscar Onyema has been elected to board of World Federation Exchanges (WFE).

A statement released Friday by the NGX Group said the decision was reached during 60th General Assembly and Annual Generation Meeting of WFE.

The statement said that with the election, Onyema would serve on the WFE board for a three-year term and would represent Europe-Middle-East-Africa (EMEA) region.

Nigerian Exchange Group joined WFE in 2014, historically becoming the first West African exchange firm to be granted full federation membership status.

Speaking on the election, Onyema said, “I am honoured to be elected to the board of the WFE which is the global group for exchanges and clearing houses (CCPs) around the world. This is an important achievement for Nigerian Exchange Group and the Nigerian financial market. It is an indication of our prominent regional and global position and a testament to our contributions to the WFE in respect of our input on issues confronting the African and global capital markets.

“We are committed to fostering greater synergies between the WFE members and industry partners, and supporting the Federation to consolidate its position as the leading voice for exchanges and clearing houses, amongst global stakeholders.”

Commenting on the development, the Chief Executive Officer, WFE, Ms. Nandini Sukumar welcomed Onyema into the Board of Directors of WFE, adding that the organization hopes to benefit from his insights.

Nandini said, “The WFE welcomes Nigerian Exchange Group and Oscar Onyema, a leader and thinker, to the Board of Directors. As an industry, we will all benefit from the perspectives and insights he brings. We look forward to working even more closely with African markets in future and bringing more of them into WFE membership, and the standard that represents.”

Describing WFE, part of the statement reads, “WFE is the global industry group for exchanges and clearing houses (CCPs) around the world, representing over 250 market-infrastructures ranging from those that operate the largest financial centres to those that run frontier markets.”