By Adedapo Adesanya
The World Federation of Exchanges (WFE) has expressed optimism that the election of the Group Managing Director/Chief Executive Officer (CEO) of the Nigerian Exchange Group (NGX Group) Plc, Mr Oscar Onyema, to its board would greatly benefit the organisation.
According to a press release, the decision for the inclusion of Mr Onyema to the board of the group was reached at the 60th General Assembly and Annual Meeting of WFE held on September 9, 2021.
With the election, Mr Onyema will serve on the WFE board for a 3-year term, representing Europe-Middle East-Africa (EMEA) region.
Speaking on the appointment of Mr Onyema, the CEO of WFE, Ms Nandini Sukumar, noted that, “The WFE welcomes Nigerian Exchange Group and Oscar Onyema, a leader and thinker, to the Board of Directors.
“As an industry, we will all benefit from the perspectives and insights he brings. We look forward to working even more closely with African markets in future and bringing more of them into WFE membership, and the standard that represents.”
On his part, Mr Onyema said, “I am honoured to be elected to the board of the WFE which is the global group for exchanges and clearing houses (CCPs) around the world.
“This is an important achievement for Nigerian Exchange Group and the Nigerian financial market. It is an indication of our prominent regional and global position and a testament to our contributions to the WFE in respect of our input on issues confronting the African and global capital markets.
“We are committed to fostering greater synergies between the WFE members and industry partners, and supporting the Federation to consolidate its position as the leading voice for exchanges and clearing houses, amongst global stakeholders.”
The Nigerian Exchange Group has been a member of the WFE since 2014 when it made history as the first West African exchange to be granted full federation membership status.
The WFE is the global industry group for exchanges and clearing houses (CCPs) around the world, representing over 250 market infrastructures ranging from those that operate the largest financial centres to those that run frontier markets.
With extensive experience in developing and enforcing high standards of conduct, the WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk.
WFE seeks outcomes that maximise the common good, consumer confidence and economic growth.