NSE Advertises CEO Position On Job Portal As It Moves To Replace Oscar Onyema

The Nigerian Stock Exchange (NSE) is moving swiftly to replace its current Chief Executive Officer, Oscar Onyema. For the first time in years, in a dramatic fashion, the stock exchange requested for applications from candidates interested in the CEO position through a job portal.

Onyema has been the CEO of the stock exchange in Nigeria for two-terms, both of which are five years each. While the job advert on Stanton Chase, a job portal, could be a formality, it passes one message, Onyema, whose tenure is meant to end in March 2021, won't be returning as CEO.

Why is NSE job hunting for Onyema's position?

It had been hinted that he could return as NSE moves closer to demutualisation, but having been appointed as the group CEO of Nigerian Exchange Group Plc (NEXG), he is expected to exit the CEO position for new leadership to take over the Exchange; while he oversees the Group. Recall that the NSE had re-register its name to (NEXG) after a board resolution, and also established a separate subsidiary, NGX Regulation Limited.

The name change resulted from the stock exchange's process of demutualisation. The NSE intends to become a public-traded, profit-making company owned by shareholders, from being a private, member-owned company, in order to unlock their true value and diversify operations. the demutualisation will also make Nigeria more attractive.

What responsibility awaits the new CEO?

According to the job portal, interested candidates must note the following, “The job holder will be responsible for the general management of the company’s operations and expected to demonstrate excellent administrative, strategic, operational and business management skills.

“The desired candidate will be expected to successfully drive the achievement of the Exchange’s financial and non-financial targets; champion the development and refinement of the Exchange’s strategies towards deepening market penetration and achieving sustainable growth and profitability. The desired candidate would also oversee the execution of the Exchange’s go-to-market and operating model priorities among others.

Part of the responsibilities include, "Reporting to the Board of Directors, the successful candidate will have overall P&L responsibility for the Nigerian Exchange Ltd, oversee the implementation of strategic value-adding projects as well as hold responsibility for the day-to-day management of its operations."