BGL MD Albert Okumagba is dead

Albert Okumagba

BGL Group managing director/chief executive officer Albert Okumagba has passed on.

He died on Thursday morning in Abuja following a heart attack, according to reports.

The BGL Group has several subsidiaries which include BGL Capital, BGL Private Equity, BGL Security and BGL Asset Management.

Okumagba was suspended from operating in the capital market by the Securities and Exchange Commission (SEC) in 2015 when the commission found BGL guilty of complaints made by various investors.

In 2017, SEC slammed a life ban on the Delta-born investment expert, saying the ban was the final decisions of its Administrative Proceedings Committee in the matter of APC/1/2015: Rivers State Ministry of Finance & 31 Others V. BGL Plc & 31 Others.

Okumagba was president of Chartered Institute of Stockbrokers (CIS) between 2014 and 2015. The CIS is a not-for-profit professional institute providing training for professionals in stockbroking, securities and investment, fund and portfolio management, asset management, investment management, and other related fields.

Born in April 1964, Okumagba attended Federal Government College Warri, 1975-81; Kings College Lagos, 1983; University of lbadan and University of Lagos. He had bachelor’s and master’s degrees in Economics.