A new president/chairman of the council of the Nigerian Stock Exchange (NSE) is expected to emerge on Wednesday immediately after the 2014 annual general meeting slated for that day.
There are indication that the former group managing director of Access Bank Plc, Mr Aigboje Aig-Imoukhuede, will be stepping into the shoes of Alhaji Aliko Dangote as the next president of the NSE, being currently the first vice president of the council of the NSE.
Market operators have commended Dangote’s leadership for successfully returning the exchange to a path of bountiful growth, restoring investors’ confidence in the market.
They declared that the NSE has improved disclosure and governance level in the market, introduced market making, retail bond trading and raised the level of investors’ education with the support of the council under Dangote’s leadership. Dangote was elected the 17th president of the NSE in August 2009. The industrialist’s group of companies, comprising of Dangote Sugar, Dangote Flour Mills, and Dangote Cement, account for about 30 per cent of market capitalisation.
The council of the NSE is made up of 14 members, consisting of the president, the chief executive officer, Oscar Onyema, and other members, including representatives of dealing member firms who are highly qualified in their respective professions with a wealth of diverse experience.
The capital market activities for last week closed on a positive trend with market capitalisation appreciating by N125 billion to close at N13.553 trillion when compared with the N13.428 trillion posted the previous week. Equally, the All-Share Index increased by 376.94 points or 0.93 per cent to close at 41,049.27 as against the 40,672.94 achieved the previous week.
Source : Leadership