• As Dangote, Six Others Retire
The Nigerian Stock Exchange (NSE) ended its 56th annual general meeting on Monday, where it elected Abimbola Ogunbanjo as new President of its National Council, replacing Aigboje Aig-Imoukhuede, who completed his three-year tenure.
Founding partner of the law firm of DIKKO & MAHMOUD and current President of the Nigerian Bar Association (NBA), Abubakar Balarabe Mahmoud SAN, was also elected First Vice President; while Mrs Catherine Echeozo, former Deputy Managing Director of Guaranty Trust Bank Plc, was elected as Second Vice President at the event held in Lagos.
Aig-Imoukhuede will however remain on the National Council as an ex-officio member pursuant to The Exchange’s Article of Association, while Alhaji Aliko Dangote and six others retire.
The other retiring Council Members are: Muhammad Daggash, Finmal Financial Services Limited (represented by Dr. Umaru Kwairanga); Greenwich Trust Limited (represented by Kayode Falowo) , ICMG Securities Limited (represented by Michael Osime), Meristem Securities Limited (represented by Oluwole Abegunde) , Sigma Securities Limited (represented by Dunama Balami) and Signet Investment and Securities Limited (represented by Oladipo Aina).
They were replaced by: Chartwell Securities Limited (Represented by Oluwole Adeosun); Equity Capital Solutions Limited (represented by Kamarudeen Oladosu); Fortress Capital Limited (represented by Yomi Adeyemi); Pilot Securities Limited (represented by Seyi Osunkeye); Planet Capital Limited (represented by Chidi Agbapu); Woodland Capital Markets Plc (represented by Patrick Ajayi); Kastina State Investment & Property Development Co. Limited (represented by Mrs. Fatimah Bintah Bello–Ismail); Echeozo; and Erelu Angela Adebayo.
Ogunbanjo, Managing Partner of corporate law firm of Chris Ogunbanjo & Co (Solicitors), who currently serves as chairman of the NSE’s Demutualization Advisory Committee, joined the National Council of The Exchange in 2011 and became First Vice President in 2014.
He serves on the boards of several multinational corporations and non- profit organizations including Beta Glass PLC and the Advisory Board of the University of Buckingham Centre for Extractive Studies.
A member of the International Bar Association, Nigerian Bar Association, Institute of Petroleum and a registered Capital market consultant with the Securities and Exchange Commission, Nigeria, he is a former Country Director and Legal Adviser of the oil giant ConocoPhillips and oversaw the recent divestment of the corporation’s upstream assets in Nigeria.
Ogunbanjo graduated of Business Administration with Honours from the American College of Switzerland, Switzerland, from where he proceeded to the University of Buckingham, Buckingham where he obtained his law degree.
Commenting, Aig-Imoukhuede said: “I am delighted that our robust succession planning framework has ensured the emergence of a worthy successor in the person of Mr. Abimbola Ogunbanjo. His background as a legal practitioner and successful corporate player combined with years of meritorious service as a Council member has equipped him with the knowledge and experience required to take the Exchange to higher levels of performance and development”.
Also, Chief Executive of the NSE, Oscar N. Onyema, appreciated Aig-Imoukhuede for his immense contributions, commitment and distinction in service, including bringing “hands-on experience and business expertise to the Council which contributed to the development of the Exchange, despite the harsh economic and policy environment that characterized his tenure.
“The election of Mr. Ogunbanjo brings continuity and ensures that The Exchange will continue to deliver on its strategic objectives. NSE has already benefitted greatly from his broad experience and his contributions as the First Vice President of our Council. I look forward to working closely with Mr. Ogunbanjo in our journey to becoming Africa’s foremost securities exchange”.
Also speaking on his emergence, the new Council President expressed honour at being elected, just as “taking the reins of leadership of this foremost Exchange is made easier by the transformational groundwork laid by my predecessor. I would like to thank the outgoing Council led by Mr. Aig-Imoukhuede for their stewardship of the Exchange over the last three years.
“I have worked closely with my predecessor in pursuing our collective vision and building a world class exchange. Together with the other Council members I now look forward to the successful implementation of the transformative initiatives articulated in our 2018 – 2021 corporate strategy”.
The governance of The Exchange is vested in its Council which directs The Exchange’s business and financial affairs, strategy, structures and policies; monitors the exercise of any delegated authority; and deals with challenges and issues relating to corporate governance, corporate social responsibility and corporate ethics.
