Onyema Elected Member Of World Federation of Exchanges

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The World Federation of Exchanges (WFE) has elected Mr Oscar Onyema, the Group Managing Director/Chief Executive Officer of the Nigerian Exchange Group (NGX Group) Plc, to its Board.

In a statement made available to newsmen on Friday, Onyema said the achievement was to the overall financial market of Nigeria.

This decision was reached at the virtual 60th General Assembly and Annual Meeting of WFE held between Sept. 6 and Sept. 9, coordinated from London.

With the election on Sept. 9, Onyema will serve on the WFE board for a three-year term, representing Europe-Middle East-Africa (EMEA) region.

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“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 clearinghouses, amongst global stakeholders,” he said.

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He added that the NGX Group was 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 Chief Executive Officer, WFE, Ms Nandini Sukumar said: “The WFE welcomes Nigerian Exchange Group and Oscar Onyema, a leader and thinker, to the Board of Directors.

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“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 they represent.”

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