The Nigerian Stock Exchange (NSE), on Tuesday described the passage of its erstwhile Director-General, Apostle Hayford Alile, at the age of 80 as a great loss to the Nigerian capital market.
Alile was Director-General of the NSE from 1976 to 2000, during which the exchange experienced physical movement of its operations to the current location in the hub of the Nigerian financial district. Others included: Trading automation, which significantly improved international access to the Nigerian capital market; and the launch of the All Share Index (ASI).
Even in retirement, according to a statement by the NSE, Apostle Alile constantly made himself available to The Exchange, adding that most recently, “we remember his wise counsel and measured contributions during his meritorious service as a Member of The Exchange’s Membership Verification Panel, whose activities assisted the National Council in finalizing The Exchange’s Membership Register.”
The statement quoted NSE’s Chief Executive, Oscar Onyema, said “Apostle Alile’s contributions to the capital market and organised private sector will continue to be referenced. He was indeed a visionary leader, whose foresight and impact on the operations of the NSE remains evident several years after the end of his tenure as Director-General of The Exchange”.
Also commenting, Abimbola Ogunbanjo, President, National Council of the NSE said, “Nigeria has lost one of its most patriotic and visionary corporate leaders. Apostle Alile was an outstanding authority on the stock market and its operations and he rightfully laid a solid foundation for The Nigerian Stock Exchange. As an Exchange, we shall remain grateful to him for providing the inspiring leadership required at the formative stage of the Exchange”.
In mourning his passing, the NSE observed a one-minute silence in his honour during the trading hours of Tuesday, October 2, 2018, assuring that “the thoughts of the National Council, Management, Staff and indeed the capital market ecosystem are with the entire Alile Family.”