Chiemeka’s appointment as NGX CEO will deepen market growth – Professional Group

The appointment of Jude Chiemeka as the Chief Executive Officer (CEO) of the Nigerian Exchange Limited (NGX) has continued to generate widespread acclaim from industry professionals, who believe his extensive experience and proven leadership qualities will drive NGX towards sustained success.

Chiemeka, a seasoned executive with a robust background in finance and management, brings over 30 years of professional experience in securities trading, asset management, and investment banking across African markets. He joined the Nigerian Stock Exchange as the Divisional Head of Trading Business in February 2019 and became the Divisional Head of Capital Markets in 2021. Before his current position, he was the Executive Director of Capital Markets at NGX.

As Chiemeka steps into his new role, the Securities and Investment Empowerment Network (SIEN), a prominent professional group in the finance sector, has described his appointment as a transformative force capable of deepening growth and further enhancing confidence in the market.

The group in a statement signed by its President, Dr. Albert Ogunseyinde, said Chiemeka’s extensive experience provides him with a deep understanding of the complexities of the financial markets and the strategic vision needed to navigate them.

“Chiemeka’s appointment as CEO of NGX is a testament to his exceptional leadership abilities and extensive industry experience,” said  Ogunseyinde. “His deep understanding of the financial markets, coupled with his strategic acumen, makes him the ideal person to lead NGX into a new era of growth and innovation.

“His amiable leadership style, characterized by a commitment to excellence and a focus on stakeholder engagement, has earned him a reputation as a transformative leader. His previous roles have demonstrated his ability to drive organizational change, enhance operational efficiency, and foster a culture of transparency, accountability and empathy.”

Before joining the Exchange, Chiemeka worked at United Capital Securities Limited, a subsidiary of United Capital Plc. As the Managing Director/Chief Executive Officer, he led significant initiatives such as the first cross-border trading under the West African Capital Market Integration initiative. He was also instrumental in strategy, market penetration, product development, and client management. Notably, he spearheaded the issuance and listing of the first Eurobonds Mutual Fund ($10M) on the Nigerian Exchange Limited and launched the Wealth for Women Mutual Fund, the first gender-focused mutual fund listed on the Exchange.

Before his tenure at United Capital Plc, Chiemeka served as the CEO/MD of Chapel Hill Denham Securities. In this role, he was responsible for strategy, leadership, product development, and customer relationship management. Under his leadership, the firm ranked among the top 10 brokerage firms, accounting for over 70% of market trades with a 4% market share. Before that, he was the CEO/MD of RenCap Securities (Nigeria) Limited, a subsidiary of Renaissance Capital Plc, where he handled customer relationship management, trading, management reports, budgets, and client acquisition.

In 2008, he was the Head of Securities Trading at Afrinvest West Africa Ltd, managing fixed-income and equities transactions across African markets for international and domestic institutional clients. He participated in several landmark transactions, including the first Global Depository Receipts (GDR) transaction on the Nigerian Stock Exchange, Nigerian International Debt Fund, and Reverse GDR trades. His career began in 1994 at Dominion Trust Limited.

SIEN said with Chiemeka’s boisterous resume, NGX is expected to undergo significant advancements under his leadership. The group said industry experts anticipate that his strategic initiatives will focus on leveraging technology to enhance trading processes, improving market accessibility, and fostering investor confidence.

Chiemeka’s vision for NGX aligns with the broader objectives of positioning the exchange as a leading player in the global financial markets. The Nigerian Exchange Limited plays a crucial role in the nation’s economic development by facilitating capital formation and promoting investment opportunities. With Chiemeka at the helm, we are confident that NGX will continue to contribute significantly to the growth and diversification of Nigeria’s economy,” said Ogunseyinde.

“There is now a palpable sense of optimism about the future of the Nigerian Exchange Limited as the financial community looks forward to a new era under Chiemeka’s leadership. With his extensive experience, strategic vision, and commitment to excellence, we believe Chiemeka is well positioned to steer NGX towards a path of sustained success and greater prominence in the global financial ecosystem.”

Chiemeka, is a Fellow and Council Member of the Chartered Institute of Stockbrokers (FCS), a Member of the Institute of Directors (IOD), and the Chartered Institute for Securities & Investment (CISI), UK. He is also a Fellow of the Association of Investment Advisers and Portfolio Managers and an Associate of the Certified Pension Institute of Nigeria. He holds degrees from the University of Oxford, UK, Lagos Business School, and the University of Lagos. He is married to Temitayo Chiemeka and they are blessed with Children.

Warm regards,

Adejuwon Osunnuyi

Media and Public Relations Manager

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…signs epochal Development Agreement with Okpella Communities

Management of Dangote Cement, Okpella has signed a development and social support agreement with its Okpella Edo state host communities in demonstration of its commitment to the development and overall well-being of host communities and their people, as a responsible corporate entity

The signing of the Community Development Agreement (CDA) came just as the Edo state and the federal government commended the company for its proactiveness in planning for the growth of its host communities as a sure means of promoting peaceful co-habitation.

The Okpella Plant Director, Dangote Cement Plc, Mr. Mohammed Ismaeel, at the CDA signing ceremony said the cement company has fully complied with the provisions of the Minerals and Mining Act, 2007 and that of the Minerals and Mining Regulation 2011 of the federal republic of Nigeria.

Signing the agreement on behalf of the company at Okpella, Mr. Ismaeel said the ceremony was very significant in that it aimed at promoting harmonious and mutual benefits between the cement company and its host communities.

“Today’s occasion is not only a demonstration of our compliance to these regulatory provisions as a responsible corporate organization but it also a demonstration of our commitment to the development and overall wellbeing of our host communities.

“For us as a company, we believe in the mantra, good neighbourliness is good business, hence we are doing everything possible to maintain harmonious relationship with all the communities where we operate”, Ismaeel added.

He added that the occasion marks the beginning of concrete infrastructural development and social supports in the areas of education, improved access to health care, economic empowerment programmes targeted at the youths, women and the farming population, improved access to potable water, support to improve electrification and power supply among other things.

The Plant Director pointed out that the CDA also provides for scholarship grants for students in secondary and tertiary institutions to promote excellence in educational pursuits of indigent students from Dangote Cement, Okpella host communities.

He added that the CDA document clearly states the consultative framework for engagements, grievance management and obligations of both the Plant and the host communities for mutual growth and development stressing that, it is clearly a path to define relationships, commitments, obligations and expectations with potential to address immediate concerns and future social issues that may arise in the course of the relationship between the company and its host communities.

Ishmaeel then requested the host communities to keep their end of the bargain by supporting and collaborating with the company so as to foster all round development. “Be assured that we are always ready to listen, dialogue and resolve all concerns”, he noted.

Speaking on the occasion, the Edo State Commissioner for Mines and Energy, Hon. Donatus Ojiefoh, who represented the State Governor, Godwin Obaseki, praised the company’s management for taking the path of peace with its host communities pledging by so doing, that the state governor will always support any investors who wants to invest in the state.

He assured the people of the communities that more investors are willing to come and invest in the state but that the people most be willing to cooperate and provide the enabling environment for them to operate.

Ojiefoh admitted that it is imperative for students to study the mineral resources that are abound in their communities in order to be able to appreciate them.

In her own remark, the host Etsako East Local Government Chairman, Mrs. Benedicta Atu, commended the company for signing the agreement despite the odds and the delay occasioned by some factors saying it was good that the signing took place at the time.

She called on the companies operating within the local government to urgently help with the payment of the monumentization of the boundary between Okpella and Kogi State.

Speaking for the host communities, High Chief Afiabor Peter, Secretary, Ukhomunyio Council of Village Heads, Afokpella thanked the Dangote’s Cement for the signing of the CDA, saying that it was a welcome development as it will benefit all the parties involved.

He expressed confidence that all that are contained in the agreement were thorough reflections of the wish and aspirations of the host communities and promised that the host communities would be up and doing to fulfil their own side of the bargain.

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 30-BED HOSPITAL FOR THE NIGERIA CUSTOMS SERVICE IN BAUCHI STATE UNDER ITS SECURITY SECTOR SUPPORT GRANT

Bauchi, Nigeria; July 8th, 2024

The Abdul Samad Rabiu Africa Initiative (ASR Africa) has commenced the construction of a 30-bed hospital for the Nigerian Customs Service with a groundbreaking ceremony held today at the Nigeria Customs Service Command in Bauchi State. This state-of-the-art medical edifice in Bauchi State is valued at 500 million Naira.

The groundbreaking is coming after the presentation of letters of award to Nigeria’s security agencies in December 2022 by the MD/CEO of ASR Africa, Dr Ubon Udoh.

The Comptroller General (GG) of the Nigerian Customs Service, Adewale Adeniyi (MFR) expressed his appreciation to the Chairman of ASR Africa for the grant awarded to the agency. He mentioned that this gesture is worthy of mention as it is the first of such a huge donation to the Nigeria Customs Service from any organization. He added that upon assumption of Office as the CG, he deemed it fit to continue the project as the welfare of the agency’s personnel is his utmost priority. He promised that the Nigerian Customs Service is committed to ensuring adequate deployment of medical personnel for the effective use of the facility when completed.

In his speech at the groundbreaking ceremony, Dr Ubon Udoh (MD, ASR Africa) reiterated the commitment of the Chairman of ASR Africa and the BUA Group, Abdul Samad Rabiu, in fulfilling the pledges made to the security agencies across Nigeria. He further stated that ASR Africa has engaged with all the beneficiaries of the security grant and is on track to ensure the implementation of all projects selected by the armed forces and security agencies. He thanked the leadership of the Nigerian Customs Service for partnering with ASR Africa on this project.

It will be recalled that the Chairman of ASR Africa, Abdul Samad Rabiu on his visit to the immediate past President of Nigeria in December 2022, announced a grant of 10 billion Naira to the Nigerian armed forces and security agencies. This grant, part of the Security Sector Support grant, is aimed at providing support for security agencies in the country and the armed forces to effectively and efficiently fulfill their mandate to the Nigerian people.

Other beneficiaries include the Nigerian Navy, Nigerian Air Force, Nigerian Army, Nigeria Security and Civil Defence Corps (NSCDC), Nigeria Immigration Service, Department of Secret Services (DSS), Nigeria Police, National Drug Law Enforcement Agency (NDLEA) and the Nigerian Correctional Service.

About ASR
ASR Africa is the brainchild of African Industrialist, Philanthropist, and the Chairman of BUA Group. Established in 2021, ASR Africa provides sustainable impact-based, homegrown solutions to developmental issues affecting Health, Education, and Social Development within Africa.