The board of Nigerian Exchange Group (NGX Group) Plc has appointed Mr. Olufemi Shobanjo as the chief executive officer of NGX Regulation Limited (NGX RegCo).

NGX RegCo is the self-regulatory organisation (SRO) that regulates activities at the NGX. It took over the regulatory functions of the defunct Nigerian Stock Exchange (NSE) after the demutualisation of NGX.

In a statement, the board of NGX Group said the appointment followed a careful and open selection procedure. The appointment has also been approved by the Securities and Exchange Commission (SEC).

Shobanjo, who was until now the head of broker-dealer regulation at NGX RegCo, assumed the position on February 28, 2024 following the completion of the tenure of former chief executive, Tinuade Awe’s tenure on February 27, 2024.

The board noted that Shobanjo’s 18-year experience in corporate law, compliance, and financial markets positioned him to lead the company and uphold capital market integrity.

The board pointed out that Shobanjo had been responsible for developing and implementing regulatory strategies, policies and procedures at the NGX RegCo.

Source: The Nation