Nigerian Exchange Group Plc (“NGX Group” or “The Group”), a leading integrated market infrastructure group in Africa, has announced the appointment of Alhaji Umaru Kwairanga as its new chairman.
The board of the group, at its meeting held on Wednesday, approved the appointment. Prior to this, Mr Ikpobe Apollos, a non-Executive Director of NGX Group, had last Friday been elected acting chairman.
The communications consultant to the organisation, Clifford Akpolo, in a statement, said the appointment of an acting chairman was done to ensure governance continued.
He said that also allowed wider consultations before the appointment of a substantive successor to the erstwhile chairman, Otunba Abimbola Ogunbanjo, who announced his retirement at the 61st Annual General Meeting of the Group.
In his acceptance speech, Kwairanga promised to work assiduously with his colleagues on the Board to immediately stabilise relationships with all key stakeholders and set the Group on the path to a brighter future.
Kwairanga, a thoroughbred capital market professional with excellent corporate governance pedigree, has 30 years of cognate experience in banking, pensions, manufacturing and commercial sectors.
He served previously as a Council Member of the then Nigerian Stock Exchange and as member of the Board of Directors of NGX Group
He is currently a council member of the Institute of Directors of Nigeria, and an active director of multiple listed and unlisted companies.