Unuigbe Succeeds Mahmoud At NGX Exchange, As Chiemeka Appointed ED, Amid Shake Up In Group’s Subsidiaries

The Nigerian Exchange Group Plc (NGX Group), at the weekend announce significant changes to the board of its subsidiaries- Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo), and NGX Real Estate Limited (NGX RelCo), with effect from September 27, 2023.
In a statement, the group announced the appointment of Ahonsi Unuigbe as replacement for its Board Chairman- Abubakar Mahmoud, who has retired, just as other transiting board members such as Erelu Angela Adebayo, Kamarudeen Oladosu, Yomi Adeyemi, and Seyi Osunkeye.
Ahonsi is the Founder and Chief Executive Officer of Petralon Energy, an upstream oil and gas company he founded in 2014, which now has a net oil production of over 3,000 barrels per day.
Recall that the last annual general meeting, shareholders of NGX approved the appointment of Jude Chiemeka as Executive Director, along with five Non-Executive Directors. They are: Mrs. Lilian Olubi, Azubuike Okpalaoka, Dr. Hamza Sule Wuro Bokki, Sehinde Adenagbe and Mrs. Foluke Oyeleye.
Similarly, Dr. Salamatu Suleiman was appointed chairman of NGX RegCo, effective 30 September 2023, succeeding Mrs. Catherine Echeozo, who also retired; while Mrs. Foluke Oyeleye resigned from the board, following her appointment as a Director at Nigerian Exchange Limited.
NGX RegCo’s shareholders have also approved the appointments of Mr. Olufemi Akinsanya as Non-Executive Director and Mrs. Amina Mohammed as Independent Non-Executive Director.
Furthermore, Ms. Ngozichukwuka Edozien has been appointed as the new Chairman of NGX RelCo board, effective 7 October 2023, succeeding Erelu Angela Adebayo, who equally retired.
Shareholders of NGX RelCo also approved the appointment of Mrs. Fiona Ahimie as Non-Executive Director, with two Independent Non-Executive Directors, Victor Alonge and Abdullahi Suleiman.
Commenting on these appointments, Alhaji Umaru Kwairanga, Group Chairman of NGX Group, expressed delight at the “pivotal changes in the leadership of our subsidiaries, NGX, NGX RegCo and NGX RelCo.”
The appointments of Mr. Unuigbe, Dr. Suleiman and Ms. Edozien, he noted, “represent a defining moment in our journey. We have meticulously planned for this transition, and I have complete confidence that they will continue to uphold our tradition of excellence and steer our organizations toward even greater heights.”
The trio, he continued, “bring a wealth of experience and a profound understanding of our industry’s dynamics. Their track records in service delivery make them ideal leaders for these roles. As we embark on a new chapter, we anticipate their contributions to be instrumental in realizing NGX Group’s ambitious growth strategy. Their expertise will unlock the full potential of our organizations and, in turn, benefit our valued investors and stakeholders.”
Kwairanga also extended his gratitude to Mahmoud, Mrs. Echeozo, Erelu Adebayo, and all the retired board members of the various subsidiaries “for their enormous contributions and exceptional service. He remarked, “Their dedication and invaluable expertise have been instrumental in the Group’s journey, navigating through challenging economic and political landscapes. We extend our heartfelt appreciation for their remarkable accomplishments, which have had a lasting impact on the development and resiliency of our Group.”