The Nigerian Stock Exchange said on Friday that it has completed a part of the multi-stage process for the selection of Chief Executive Officer (CEO) for the Exchange and the name of the recommended candidate has been forwarded to the Securities and Exchange Commission (SEC) for approval.

 

The Council is currently awaiting approval of its choice from the SEC.  Further, the Council has reached an advanced stage in the selection process for each of the three Executive Director positions. It is expected that this process will be completed in January 2011.  The Exchange expects that the persons engaged for all four positions will assume duties no later than 1 April 2011.

 

The position of The Exchange to get the approval of SEC is in accordance with previously agreed procedures, that the apex capital market regulator should give its approval to any candidates The Exchange intends to hire prior to their engagement by The NSE.

 

The Exchange has adopted an entirely auditable, thorough, and transparent multi-stage process to ensure that the best talents are recruited for the four available top management positions. The positions are: Chief Executive Officer; Executive Directors for Listings; Strategy and Business Development, as well as Market Operations and Information Technology.

 

 

 

 

 

 Emmanuel Ikazoboh

Interim Administrator,

The Nigerian Stock Exchange

 

31 December 2010