The Central Securities Clearing System Plc (CSCS Plc), has appointed Nonso Okpala, Group Managing Director/CEO of VFD Group, a propriety investment company into its Board.

Okpala began his career as a Senior Auditor at KPMG Professional Services (Nigeria), and later served as the Director of Finance/CFO at Heirs Holdings Limited.

Last year, shareholders of the Nigerian Exchange Group Plc approved Okpala’s appointment as a Non-Executive Director as part of NGX’s efforts toward its board’s reconstitution. Nonso’s appointment to the board of CSCS and the NGX is critical to the development and enhancement of the market infrastructure and exchange business in Nigeria, which VFD Group, a company with significant holding in the NGX has recently been advocating.

Nonso’s business turn around capabilities has been evident in the evolution of VFD Group from initial capital of N2.5m to a company with current asset value at over N200bn and investment in over 40 businesses across diverse sectors of the Nigerian economy.

He led the eight capital raises, setting and exceeding targets, building a reputable brand that transitioned from listing on the National Association of Security Dealers (NASD) to the Nigeria Exchange Limited (NGX) in just four years, a nontraditional feat further clinching the “Equity Listing of the Year Award” at the Made of Africa Awards in December 2023.

Okpala is a Non-Executive Director of Abbey Mortgage Bank, the oldest Mortgage bank in Nigeria currently valued at over N60bn from N6bn prior to VFD Group’s investment and institution of strong corporate governance practices.

His presence on the CSCS Board, it is believed, will enhance the company’s governance structure, instilling confidence among investors and stakeholders in CSCS Plc’s commitment to upholding the highest standards of corporate governance and accountability.