Black Affairs, Africa and Development

Top 13 Nigerian CEOs 2013

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Oscar Onyema Nigerian Stock Exchange (NSE) Industry: Finance

Oscar Onyema has been the Chief Executive Officer (CEO) of Nigeria’s trade stable – the Nigerian Stock Exchange (NSE) since 2011. Since he became the bourse head, he has turned it around for good. A former Chief Administrative Officer of the American Stock Exchange (AMEX), Onyema introduced Market Making and security lending to the NSE in 2012 as part of his move to introduce initiatives that would help to deepen the Nigerian stock market and make it the gateway to Africa capital markets. The introduction of this programme has paid off as the volume and value of trade has lifted the market by 41 per cent or N3.338 rillion in 2013. Before the introduction of Market Making, the All-Share Index (ASI) posted a growth of 20 percent, rising 21,106.67 to c lose at 25,373.83. Market capitalisation also added N1.346 trillion, growing from N6.731trillion to N8.077 trillion as at September, 2013. Also, at the end of last week, market capitalisation appreciated by 1.88 per cent to close at N12.661 trillion while the NSE All-Share Index increased by 1.88 per cent to close on Friday (Dec 20) at 39,562.75. Onyema has delivered as the exchange is now one of the most respected globally. The NSE was one of the two bourses that made the top 10 best performing Stock Exchange of UK’s Telegraph this year. Under his management, the Nigerian Stock Exchange joined the United Nations Sustainable Stock Exchanges (SSE) Initiative, making it the third African nation to join the clique. The SSE initiative is co-organized by UNCTAD, the United Nations Global Compact, the United Nations Environment Programme’s Finance Initiative, and the UN-supported Principles for Responsible Investment.

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