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Change of Baton: Onyema Out, Popoola In at NGX
The Group Managing Director and CEO of Nigerian Exchange (NGX) Group Plc, Mr. Oscar Onyema, is set to retire from the company effective December 31, 2023.
In his place, Mr. Temi Popoola will step in as successor effective January 1, 2024.
Mr. Jude Chiemeka will serve as Acting CEO of Nigerian Exchange Limited.
The two appointments are subject to Securities Exchange Commission’s approval, company secretary, Obehi Ikhagbe announced on Friday through a notice published on the website of the NGX.
Popoola is at present the CEO, NGX and a member of NGX Group Executive Committee chaired by Mr. Onyema.
He began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York, where he drove firm profitability by providing derivative solutions to US corporations and family offices.
A Wall Street-trained investment banker, Mr. Popoola joined NGX in 2021 as CEO from Renaissance Capital (Rencap) where he was the Managing Director and CEO for West Africa. At NGX, he oversaw and supported its continuous growth, profitability, and success by providing strategic market insight and leadership.
He graduated with a first-class degree in Chemical Engineering from University of Lagos and holds a Masters’ degree from Massachusetts Institute of Technology (MIT). He is a Chartered Financial Analyst (CFA) and a Chartered Stockbroker (CIS).
Chiemeka is currently the Executive Director of Capital Markets responsible for Trading, Products Development and Listings at NGX. He is a member of NGX Executive Committee chaired by Mr. Popoola.
Prior to joining NGX, he was the MD/CEO of United Capital Securities, a subsidiary of United Capital Plc listed on NGX.
He is a Fellow and Council Member of the Chartered Institute of Stockbrokers (FCS), a Member of the Institute of Directors (IOD), a Fellow of the Association of Investment Advisers and Portfolio Managers and an Associate of the Certified Pension Institute of Nigeria.
He is also an alumnus of the University of Lagos.
Commenting on the appointments, Alhaji (Dr.) Umaru Kwairanga, the Chairman of NGX Group Plc, stated, “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning. I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of The Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group Plc from 2021 -2024.
“Mr. Onyema led the stabilization, growth, demutualization and restructuring of The Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.
“I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”
The retiring GMD/CEO, Onyema also commented: thus
“I am deeply appreciative of the privilege to have led The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO.
“I extend my best wishes to Mr. Popoola, and have full confidence in his capabilities to continue the legacy and growth of NGX Group. I am grateful for the support and dedication of the entire team at NGX Group and capital market stakeholders throughout my tenure. Together, we drove significant development in the African capital markets, and I am proud of the various accomplishments we have achieved since 2011.
“As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”
The GMD/CEO designate, Mr. Popoola said:
“I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm. I extend my appreciation to Mr. Onyema, for his exceptional leadership during his tenure and to the Board of Directors for the confidence reposed in me.
“The modernization of the Nigerian market infrastructure space and the demutualization and restructuring of NSE under Mr. Onyema’s guidance have been instrumental in shaping NGX Group, and I am honored to continue this legacy. I am fully committed to building on the foundation laid out and taking NGX Group to greater heights.
“With the support of the dedicated team and in collaboration with the esteemed leadership, I am optimistic about the exciting opportunities and challenges that lie ahead.
“I am also very confident in Mr. Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights”.
Featured
Ahead Christmas, It’s Glo’s Feliz Navidad All the Way on TVCs
Celebratory seasons, such as Christmas and New Year, are times when corporate organisations churn out new television commercials (TVCs) to connect with their customers and share the fun, euphoria and uncommon conviviality of such seasons.
One such organization which has over the years used this strategy to great effect is Nigeria’s top telecommunications brand, Globacom.
The exciting commercials that the technology company keeps rolling out fan the delight and elation of the season of goodwill. The brand employs the occasion not only to promote brand awareness but to felicitate its customers and the nation at large.
It is a tradition Glo has established. Since it started operations in 2003, it has always used television commercials as veritable tools of ensuring brand presence, marketing products and services and spreading joy among its various targets.
The 2024 Yuletide adverts it rolled out recently are not different. The two unique yet powerful commercials serve dual purposes. They felicitate the Nigerian people and spread mirth, which the season typifies, around existing and prospective customers.
Expectedly, the two new commercials have dominated the airwaves, and kept viewers talking and relishing the joy that Christmas brings.
The first commercial features juju music maestro, King Sunday Adegeye, popularly called King Sunny Ade, who parades a full ensemble of dancers and a rich, talented band in the TVC tagged “Merry Christmas”. The percussions, rhythm and dance merge to foster affability and enchanting memories of the season of glad tidings.
Before the party celebration where King Sunny and his band entertain guests, the TVC takes viewers back to the 1970s and 1980s when Christmas was celebrated with so much fanfare. It paints a vivid picture of rural Nigeria during Christmas where the warmth of tradition and community fills the air. The village with lush green vegetation is buzzing with excitement, with children playing, women cooking delicious meals in open-air kitchens, the aroma of local dishes (you can literally perceive it) mixing with the sounds of Afro Juju music. Families and friends gather around, dancing joyfully to the rhythmic beats, their faces beaming with happiness as they celebrate the festive season. A woman bearing the Aso ebi for the party is shown coming down from a Peugeot 504 car which also reinforces the advert as being set in the 1980s.
The television commercial by the telecom company captures the essence of togetherness, blending the cultural richness of rural life with the spirit of Christmas, all while subtly underscoring the telecom brand’s role in connecting loved ones, no matter how far apart they may be. It ends with “Better don come. Merry Christmas, Nigeria” further underscoring the reason for the commercial.
The second commercial tagged “Feliz Navidad” uses a galaxy of known artistes including Nollywood star, Timini Egbuson, as well as Uche Nwaefuna (Uchemontana), Chigozie Stephanie Alichi (Chizzy Alichi), Tomi Ojo, Eronini Osinachim, Kiki Bakare and Tope Adenibuyan (Teddy A) to pass across the message of Christmas.
At the heart of the Christmas party, the energy is electric as tap dancers take center stage, their feet tapping out intricate rhythms that blend seamlessly with the upbeat melody of Feliz Navidad. The sound of their shoes striking the floor creates a lively pulse, complementing the lively tunes of the music band performers who bring the festive song to life with vibrant instruments and harmonious vocals. Laughter and cheer fill the air as all come together to toast the season, sharing in the joy of music, movement, and the warmth of the Christmas spirit. The scene is a vibrant celebration of culture, unity, and festive joy, all set to the timeless sounds of Feliz Navidad.
These commercials have further endeared the Glo brand to its subscribers and the general Nigerian public as they enjoy the geniality of the season of love, hope, gifts and celebrations.
Talking about the Yuletide commercials, Ademide Gafar, an industry watcher opined that churning out great TVCs is one of the selling points of the Glo brand while John Michael, a marketing communications expert, noted that Globacom is not just a leader in the telecommunications sector but a prominent creator of unforgettable commercials. From the nation’s pride in telecommunications, it’s Feliz Navidad-Merry Christmas!
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Court Sends Woman to Prison for Abusing Tinubu’s Son, IGP on Social Media
Olamide Thomas, who reportedly threatened Seyi Tinubu on social media, was on Friday, arraigned before a Federal High Court in Abuja.
Olamide was arraigned by the office of the Inspector-General of Police (IGP), Kayode Egbetokun, before Justice Emeka Nwite on a three-count charge.
Olamide was alleged to have, sometime in 2024, knowingly and intentionally transmitted communication in the form of video recording through a computer system or network on her social media platforms wherein she made remarks in Yoruba language.
In the video, she was alleged to have stated: “Mr. Seyi Tinubu would die this year, and misfortune and calamity had befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr Seyi Tinubu.”
The communication was said to have placed Seyi in fear of death, violence or bodily harm.
The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.
In count two, the defendant was alleged to have intentionally transmitted communication in the form of video recording wherein she made remarks in Yoruba Language to bully, threaten, and harass the person of Egbetokun.
The communication was said to have placed Egbetokun in fear of death, violence or bodily harm.
The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.
She, however, pleaded not guilty to the charge.
Olamide was arrested on allegations bordering on harassing and threatening Seyi Tinubu, Egbetokun, and the Police Public Relations Officer, Muyiwa Adejobi, in a viral social media post.
In the charge marked: FHC/ABJ/CR/636/2024 dated and filed on December 18 by the police team of lawyers led by A.A. Egwu, Olamide was sued as sole defendant.
Upon resumed hearing, Victor Okoye, who appeared for the police, informed the court that the matter was slated for arraignment and that he was ready to proceed.
After the counts were read to the defendant, she pleaded not guilty to the charge.
The defence lawyer, T J. Aondo (SAN), sought to move an oral application on his client’s behalf but the request was turned down.
Justice Nwite directed Aondo to file a formal bail application and adjourned the matter until December 30 for the commencement of trial.
The judge, however, assured the defence counsel that as soon as a bail application is filed in form of a motion on notice, the court would not hesitate to hear it.
Justice Nwite, thereafter, ordered Olamide to be remanded in Suleja Correctional Centre pending the hearing of her bail application.
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Buhari Denies Ownership of Abuja Land Revoked by Wike
Former President Muhammadu Buhari, on Thursday, denied ownership of a piece of land purportedly allocated to him by the Federal Capital Territory Administration (FCDA) in Abuja.
Media reports indicate that Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the ownership of 762 plots of land in the Maitama 1 District of Abuja, citing non-payment of statutory fees.
According to the trending reports, high-profile figures, including former President Muhammadu Buhari and former Chief Justice Walter Onnoghen, are among those affected.
The FCTA had also issued a two-week ultimatum to 614 other individuals and organisations, demanding they settle outstanding Rights of Occupancy (R-of-O) fees or risk losing their plots.
However, debunking the reports, the former President stated he is “not the owner of the said plot of land which is allocated in the name of a ‘Muhammadu Buhari Foundation.’”
In a statement issued by his media aide, Garba Shehu, in Abuja, the former President explained that he turned down the offer by the administration when it was presented to him.
The media aide further clarified: “When he and his cabinet members were invited to fill the forms and obtain land during his tenure in office, he returned the form without filling it, saying that he already had a plot of land in the FCT and that those who did not have should be given. He, therefore, turned down the offer.
“All those jumping up and down in the digital space talking about the rightfulness or the lack of it on the reported seizure of Buhari’s land in Abuja to get their facts right and stop dragging down the name of the former president.
“As with anything Buhari—and there is no surprise in this at all—there is a lot of buzz in the media on the reported seizure of a piece of land by the authorities of the Federal Capital Territory, Abuja, FCTA, allegedly belonging to the former President Muhammadu Buhari.
“Former President Buhari is personally not the owner of the said plot of land, which is allocated in the name of a ‘Muhammadu Buhari Foundation.
“The Foundation was itself floated by some utilitarian individuals around him who, it must be said, went about it in a lawful manner with the support of a number of well-meaning persons.
“But they ran into a roadblock in the land department of the FCDA, which handed them an outrageous bill for the issuance of the certificate of occupancy, very high in cost that did not at all compare with the bills given to similar organisations.
“It may have been that this was not erroneous, but a deliberate mistake, making the revocation of the land no surprise to anyone.
“As a person, the former President has a plot of land to his name in Abuja,” he added
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