NGX Group’s new CEO Temi Popoola wants ‘Nollywood’ to boost retail trading

Rick Steves

“Nollywood plays a critical role in selling the Nigerian economy and can help to catalyze increased retail investor activity by educating the younger generation to further crowd them into the market. Nollywood stakeholders can also leverage the market to raise the capital to fund their businesses and projects, deepening the synergy between the creative sector and the capital market.”

NGX Group has announced key leadership changes, appointing Mr. Temi Popoola as GMD/CEO designate and Mr. Jude Chiemeka as Acting CEO of Nigerian Exchange Limited (NGX). The appointments are effective from January 1, 2024, subject to SEC’s formal approval.

Mr. Popoola, the current CEO of NGX, brings a wealth of experience with a background in portfolio management and equity derivatives trading. His leadership at NGX since 2021 has contributed to the exchange’s growth and success.

Mr. Chiemeka, currently the Executive Director of Capital Markets at NGX, is tasked with Trading, Products Development, and Listings. With over 29 years of experience, his role is crucial in maintaining NGX’s market position.

The current GMD/CEO, Mr. Oscar N. Onyema, OON, will retire on March 31, 2024, starting his terminal leave on January 1, 2024.

Onyema led the stabilization, growth, demutualization and restructuring

Alhaji (Dr.) Umaru Kwairanga, Chairman of NGX Group, said: “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning. I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of The Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group Plc from 2021 -2024.

“Mr. Onyema led the stabilization, growth, demutualization and restructuring of The Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.

“I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”

“Full confidence in his capabilities to continue the legacy and growth of NGX Group”

Mr. Onyema commended the team and stakeholders, expressing confidence in Mr. Popoola’s capabilities to continue NGX’s legacy. Mr. Popoola acknowledged the responsibility, emphasizing his commitment to building on the foundation laid by Mr. Onyema.

“I am deeply appreciative of the privilege to have led The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO. I extend my best wishes to Mr. Popoola, and have full confidence in his capabilities to continue the legacy and growth of NGX Group. I am grateful for the support and dedication of the entire team at NGX Group and capital market stakeholders throughout my tenure. Together, we drove significant development in the African capital markets, and I am proud of the various accomplishments we have achieved since 2011.

“As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”

Temi Popoola wants ‘Nollywood’ to help boost retail investor activity

The Chief Executive Officer of Nigerian Exchange Limited (NGX), Mr Temi Popoola, said that the domestic entertainment sector, Nollywood, can help to further boost retail investor activity in the capital market due to its appeal to Nigeria’s younger generation.

“Nollywood plays a critical role in selling the Nigerian economy and can help to catalyze increased retail investor activity by educating the younger generation to further crowd them into the market. Nollywood stakeholders can also leverage the market to raise the capital to fund their businesses and projects, deepening the synergy between the creative sector and the capital market.”

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