The Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola, has been elected Chairman of the Central Securities Clearing System Plc (CSCS) , effective April 1, 2024

He succeeds Oscar N. Onyema, who retired after 13 years as Chairman.

A statement by the NGX said Popoola, seasoned financial expert, with a track record of notable achievements in global market growth and operational insight, brings on board his new role a wealth of experience and expertise.

Commenting on his election, Popoola, who until his recent appointment as CEO of the NGX Group Plc, previously served as the CEO of Nigerian Exchange Limited, guiding the Exchange through several strategic milestones, expressed his enthusiasm at assuming the new role.

According to him, “as I step into the role of Chairman at CSCS, I am honoured and humbled by the opportunity to guide this esteemed organization to new heights of success and impact. With a steadfast dedication to our mission and by building on the very strong foundation that has been laid, I am committed to working with my colleagues on the board, management, and staff to drive growth, foster innovation, and uphold the highest standards of integrity and excellence.

“Collaborating with all our stakeholders, I am confident that we will chart a course toward continued excellence, delivering value to our clients, shareholders, and the broader financial community,” he stressed.

The new chairman is being joined on the board by Samuel Onukwue and Nonso Okpala, described as esteemed professionals with extensive experience in the Nigerian capital market ecosystem.

Their infusion to the board, the statement noted, is expected to further enrich the quality and the collegiate decision-making process at this level of leadership of the company.

Speaking on the new entrants onto the board, the Managing Director/Chief Executive of CSCS Plc, Haruna Jalo-Waziri, expressed delight, and welcomed  “Mr. Temi Popoola as our new Chairman and Mr. Samuel Onukwue and Mr. Nonso Okpala as Non-Executive Directors to the CSCS Board. We are confident that their addition to the Board would further enrich the quality and the collegiate decision-making process at this level of leadership of the company.”

Jalo-Waziri extended sincere gratitude to Ms. Tinuade Awe, Seyi Owoturo, and Mrs. Tairat Tijani, who also retired from the Board along with Mr. Onyema, for their outstanding service to the Company.

This appointment marks a significant milestone for CSCS as it strengthens its position in the Nigerian Capital Market, even as stakeholders extended their best wishes to Popoola, while looking forward to a successful tenure.