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NGX Group appoints Kwairanga as new Chairman
Nigerian Exchange Group Plc (NGX Group), is pleased to announce that its board has appointed Alhaji (Dr) Umaru Kwairanga as the new Chairman at its meeting held on Wednesday, 5 October 2022.
Prior to Dr Kwairanga’s appointment as the substantive Chairman, Mr Ikpobe Apollos, a Non-Executive Director of NGX Group was on Friday, 30 September 2022 elected as the Acting Chairman. The appointment of an acting chairman was done to ensure governance continues and allows for wider consultations before the appointment of a substantive successor to the erstwhile Chairman, Otunba Abimbola Ogunbanjo, who announced his retirement at the 61st Annual General Meeting of the Group.
In keeping with good governance ethos, and to ensure continuity as well as institute an orderly succession plan for the Group, the board also created the position of Vice Chairman and appointed Oluwole Adeosun, a Non-Executive Director of NGX Group and current President of the Chartered Institute of Stockbrokers (CIS) to fill this position.
In his acceptance speech, Dr Kwairanga resolved to work assiduously with his colleagues on the board to immediately stabilise relationships with all key stakeholders and set the Group on the path to a brighter future. “I am very excited to lead the execution of our corporate strategy and deliver world-class governance to the Group.
“I appreciate the board for the confidence in my abilities to deliver on our mandate for the shareholders of NGX Group. I would like to thank our erstwhile Chairman, Mr Abimbola Ogunbanjo and our outgoing Acting Chairman, Mr Apollos Ikpobe for their outstanding and diligent service to the Company, and I promise to continue to deliver in line with their set standard of execution and delivery.”
Kwairanga, a thoroughbred capital market professional with an excellent corporate governance pedigree, has 30 years of cognate experience in banking, pensions, manufacturing and commercial sectors. He served previously as a Council Member of the then Nigerian Stock Exchange and as a member of the Board of Directors of NGX Group. He is currently a Council member of the Institute of Directors of Nigeria and an active director of multiple listed and unlisted companies.
Group Managing Director/Chief Executive Officer, NGX Group, Oscar N. Onyema, OON, said “the appointment of Dr Umaru Kwairanga as the Group’s new Chairman is a positive step in the Group’s journey to delivering value to shareholders. As we move to execute our strategy aimed at maximising outcomes for our shareholders, we would count on Dr Kwairanga’s wealth of experience in making strategic board decisions.
The outgoing Acting Chairman, Mr Ikpobe, who retired from the Board effective September 5, 2022, appreciated the Board for their cooperation during his tenure as both a director and his appointment as Acting Chairman.
“The past year as a director on this noble board gave me the opportunity to actively contribute to the transformation process of NGX Group. I trust that the board will continue to lead innovations in the Nigerian capital market as a values-driven organisation.”
The Board of NGX Group, in all its actions, continues to give utmost consideration to the role of NGX Group and its subsidiary companies, to act as key enablers of the smooth functioning of the Nigerian capital market and the broader economy.
President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
Tinubu arrives Katsina to receive Buhari’s body for burial
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader
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