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Nigerian bourse set to get new CEO

The Nigerian Stock Exchange (NSE) has forwarded the name of the recommended candidate that will fill the post of its Chief Executive Officer to the regulatory Securities and Exchange Commission (SEC) for approval, after completing the multi-stage process for the selection, the NSE said in a statement made available to PANA here Sunday.

“The Council is currently awaiting approval of its choice from the SEC. Further, the Council has reached an advanced stage in the selection process for each of the three Executive Director positions. It is expected that this process will be completed in January 2011,” the statement said, adding that persons engaged for all four positions should assume duties no later than 1 April 2011.

The three other positions are Executive Directors for Listings; Strategy and Business Development as well as Market Operations and Information Technology.

The statement was silent on the name of the candidate forwarded to the SEC for approval as NSE Director-General.

Ndi Okereke-Onyuike, who held the NSE Director-General’s position for close to a decade, was removed last year following allegations of mismanagement and for plunging the exchange into bankruptcy

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