NGX Group GMD, Popoola, elected Chairman of CSCS

Mr. Popoola, the Group Managing Director (GMD) of the Nigerian Exchange Group (NGX Group), has been elected as the Chairman of Central Securities Clearing System (CSCS) Plc, effective April 1.

A statement by the NGX said on Monday in Lagos.

Popoola succeeded Mr Oscar Onyema, who retired after 13 years of service as Chairman of CSCS.

According to the statement, the elected Chairman of CSCS is a seasoned financial expert, who has a track record of notable achievements in global market growth and operational insight.

“Popoola previously served as the CEO of the NGX, guiding the Exchange through several strategic milestones.

“Joining Popoola on the board are: Mr Samuel Onukwue and Mr Nonso Okpala, who are professionals with extensive experience in the Nigerian capital market ecosystem.

“Their addition to the board is expected to further enrich the quality and the collegiate decision-making process at this level of leadership of the company,” it said.

Reacting, Popoola said that he was honoured and humbled to step into the role of the CSCS Chairman, adding that the opportunity would enable him guide the organisation to new heights of success and impact.

He said: “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.

“This will help 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.”

Commenting, Mr Haruna Jalo-Waziri, the Managing Director of CSCS, welcomed Popoola as its new Chairman, as well as Onukwue and Okpala as non-Executive Directors of the Board of the company.

Jalo-Waziri expressed confidence that the addition of the trio to the board would further enrich the quality and the decision-making process at the level of leadership of the company.

He noted that the appointment marked a significant milestone for CSCS, because it would strengthen company’s position in the Nigerian capital market.

The managing director extended best wishes to Popoola and looks forward to a successful tenure under his leadership.

He also appreciated Ms Tinuade Awe, Mr Seyi Owoturo, and Mrs Tairat Tijani, who also retired from the board along with Onyema, for their outstanding service to the Company.