Nigerian Exchange (NGX) Limited has announced the resignation Oscar Onyema has resigned as non-executive director of the Nigerian Exchange Limited ahead of the listing of the Nigerian Exchange Group Plc.
Onyema’s resignation was announced by the Nigerian Exchange (NGX) Limited after he served as the group managing director/chief executive officer on the main board of NGX
The resignation, according to the NGX, will uphold Rule 184(2)(a) of the Securities and Exchange Commission Consolidated Rules 2013 which states that a securities exchange shall have a code of conduct for its council members or board which shall be approved by the commission, and shall contain amongst others the following provisions, to wit, that the council members or board shall: (a) not be a staff of a quoted company and its subsidiaries.”
Chairman of NGX, Mr Abubakar Mahmoud, said, “On behalf of the board and management of the Exchange, I extend our heartfelt gratitude to Onyema for his selfless service to the Exchange.
“As he transitions into this new phase as the GMD/CEO of a listed company, we reiterate our commitment to act in the best interest of all Issuers to the benefit of all stakeholders in the capital market” Abubakar Mahmoud said.
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