By investadvocate

Jan 19 2010 20.00 GMT

 

Lagos (INVESTADVOCATE)- The Securities and Exchange Commission (SEC) has confirmed Oscar Onyeama as the new Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE).

 

This was contained in Statement dated Wednesday January 19 2011 by Lanre Oloyi, Head, Media of Nigeria’s SEC and made available to investadvocate.

 

The decision to confirm Onyeama as the new CEO of the Nation’s Stock Exchange was taken by the Board of the Commission at its 56^th meeting held on Tuesday, January 18 2011.

 

Also confirmed was the appointment of Ade Bajomo as Executive Director, (ED) Information Technology (IT) and Market Operations.

 

According to the Statement by SEC, the NSE had in separate letters to the Commission on December 21 2010 and January 13 2011 conveyed the unanimous decision of the Council to appoint Onyeama as CEO and Bajomo as ED, IT and Market Operations respectively.

 

“The Commission is extremely pleased with the rigorous and transparent executive selection process implemented by the Council and Interim Administrator of the NSE, Emmanuel Ikazoboh which led to the emergence of the CEO and ED, IT” the Statement affirmed.

In the same vein SEC has urged the Council of the Stock Exchange to conclude the executive selection process with the appointment of the additional ED for Strategy & Business Development and Listings.

This is coming on the heels of earlier breaking of the news exclusively by investadvocate on its Capital/Financial Market news website Friday December 24 2010 that Onyeama would emerge as the new and substantive CEO of the Nigeria’s Exchange following a rigorous selection process.

 

Onyeama was part of the 131 that applied for the post of CEO, which was scaled down to eight and eventually interviewed by a recruitment panel which involved the Johannesburg Stock Exchange (JSE), Accenture, a Council Member of the NSE and Ikazoboh, Interim Administrator of the Nigeria’s Exchange.

 

According to SEC in the Statement, Onyeama holds a B.Sc Computer Engineering degree from Obafemi Awolowo University, Ile Ife, Nigeria and an MBA, Finance and Investments, Ziklin School of Business, Baruch College, New York.

Also, he was a Seniour Vice President and Chief Administrative Officer with the American Stock Exchange (AMEX), a position he retained after AMEX was acquired by New York Stock Exchange (NYSE) to form the world’s largest Stock Exchange, NYSEamex in 2008.

He is currently a Council member, Gerson Lehrman Group, Austin, Texas, and also a member of the Security Traders Association of New York and Securities Industry and Financial Markets Association (SIFMA).

While Bajomo, is Head, IT Programmes and Business Transformation, Africa and Indian Ocean, Barclays Bank, United Kingdom. He holds a B.Sc degree in Engineering from University of Ife, now Obafemi Awolowo University, an M.Sc with distinction in Information Systems and an MBA from South Bank University, and City University (CASS) Business School, London respectively.

Mr. Bajomo has over 23 years experience in Information Technology and Business Aligned Transformations having worked at various times in South Bank University, Deutsche Bank, Generale Bank, Fortis Bank and Pearl Insurance Group, UK.

 

“The Commission is optimistic that Messrs Onyeama and Bajomo would bring their professional experiences and expertise to bear in transforming the NSE into a world class Exchange” SEC said.

On August 04 2010 Prof. (Mrs.) Okereke Onyiuke erstwhile DG of the Nigeria’s Exchange was removed from office over allegations of financial mismanagement, insolvency of the NSE during her administration and poor corporate governance.