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Demutualisation: NSE inaugurates claims review panel

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IN preparation for the bourse demutualisation, the Nigerian Stock Exchange (NSE) has announced the inauguration of a five-man claims review panel.

According to a disclosure by the NSE, the formation of the panel is pursuant to the provisions of the demutualization of the Nigerian Stock Exchange Act 2018.

The experts appointed into the panel are: Mr. George Etomi (Chairman); Mr. Seni Adio, SAN; Mr. Abatcha Bulama; Dr. Paul Anababa, SAN and Prince Aghatise Erediauwa.

Earlier, the local bourse in a statement announced the chief executives that will head its operating and non-operating companies upon the completion of its ongoing demutualisation.

Oscar Onyema, who is the current Chief Executive Officer (CEO) of the NSE will retain the position as the CEO of the Nigerian Exchange Group Plc, a new non-operating holding company that was created under the demutualisation plan.

Temi Popoola was named the CEO of Nigerian Exchange Limited (NGX), while Tinuade Awe was named the CEO of NGX Regulation Limited (NGX REGCO), both subsidiaries of Nigerian Exchange Group.

The Group, according to the statement, would have three operating subsidiaries – NGX which is the operating exchange; NGX REGCO as the independent regulatory arm; and NGX Real Estate Limited (NGX RELCO), the real estate arm.

The statement noted that all the entities have been registered at the Corporate Affairs Commission (CAC).

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