Nigerian Exchange Group (NGX) Plc, the holding company of the nation’s premier bourse, has announced the appointment of six new directors to its board, subject to the approval of its shareholders at the upcoming Annual General Meeting (AGM) scheduled for Friday, 14 July 2023.
Gatekeepers News reports that the new directors include Mr. Nonso Okpala and Mr. Mohammed Garuba, who represent VFD Group and Cardinal Stone Partners respectively. They are both cofounders of their respective companies.
VFD Group and Cardinal Stone Partners are two of the most influential shareholders of NGX, owning 4.49% and 5.1% holdings respectively as of February 21, 2023.
The other new directors are Mr. Sehinde Adenagbe (Non-Executive Director), Mr. Ademola Babarinde (Non-Executive Director), Mrs. Mosun Belo – Olusoga (Independent Non-Executive Director), and Mrs. Fatima Wali- Abdurraham (Independent Non-Executive Director).
The appointment of the new directors is part of NGX’s efforts to reconstitute its board following its demutualization in March 2020, which transformed it from a member-owned entity to a public limited liability company owned by shareholders.
