Alhaji Aliko Dangote and seven other council members of the Nigerian Stock Exchange (NSE) have retired from the exchange following the completion of their tenure.
On Monday after the 56th Annual General Meeting of the NSE, Mr. Aigboje Aig-Imoukhuede bowed out as President of the exchange, a position he held for three years.
The new President is the immediate past first vice President, Mr Abimbola Ogunbanjo.
Apart from Dangote, the other council members who retired on Monday include Muhammad Daggash , Finmal Financial Services Limited (represented by Dr. Umaru Kwairanga); Greenwich Trust Limited (represented by Mr. Kayode Falowo) , ICMG Securities Limited (represented by Mr. Michael Osime), Meristem Securities Limited (represented by Mr. Oluwole Abegunde) , Sigma Securities Limited (represented by Mr. Dunama Balami) and Signet Investment and Securities Limited (represented by Mr. Oladipo Aina).
The newly admitted members to the council include:
- Chartwell Securities Limited (Represented by Mr. Oluwole Adeosun)
- Equity Capital Solutions Limited (represented by Mr. Kamarudeen Oladosu)
- Fortress Capital Limited (represented by Mr. Yomi Adeyemi)
- Pilot Securities Limited (represented by Mr. Seyi Osunkeye)
- Planet Capital Limited (represented by Mr. Chidi Agbapu)
- Woodland Capital Markets Plc (represented by Mr. Patrick Ajayi)
- Kastina State Investment & Property Development Co. Limited (represented by Mrs. Fatimah Bintah Bello–Ismail)
- Mrs. Catherine Nwakaego Echeozo
- Erelu Angela Adebayo
Speaking at the AGM, the outgoing President, Aig-Imoukhuede commended the management of the NSE and outgoing council members for their support to ensure the exchange reaches its present growth and development.
His words: “Despite the foregoing, our legal structure as a mutual entity increasingly constrains our ability to compete and offer services on par with leading exchanges around the world. And for this reason, I convinced my colleagues in council and our management team to accelerate our timetable for completing the demutualization of the NSE. Today, I am proud to report that this process, which had lingered in the exchange for several years has now advanced to the point of near completion.”