Oscar Onyema elected to board of World Federation of Exchanges

The World Federation of Exchanges (WFE) has elected the group managing director/chief executive officer of the Nigerian Exchange Group (NGX Group) Plc Oscar Onyema to its board.

In a statement on Friday, Mr Onyema said the achievement was to the overall financial market of Nigeria.

Onyema was elected at the virtual 60th general assembly and annual meeting of WFE held between September 6 and September 9 coordinated from London.

Onyema will serve on the WFE board for a three-year term, representing Europe-Middle East-Africa (EMEA) region.

“I am honoured to be elected to the board of the WFE which is the global group for exchanges and clearing houses (CCPs) around the world,” he said in the statement.

“This is an important achievement for Nigerian Exchange Group and the Nigerian financial market. It is an indication of our prominent regional and global position and a testament to our contributions to the WFE in respect of our input on issues confronting the African and global capital markets.

“We are committed to fostering greater synergies between the WFE members and industry partners, and supporting the Federation to consolidate its position as the leading voice for exchanges and clearing houses, amongst global stakeholders.”

He added that the NGX Group was a member of the WFE since 2014, when it made history as the first West African exchange to be granted full federation membership status.

WFE is the global industry group for exchanges and clearing houses (CCPs) globally, representing over 250 market-infrastructures including operators in the largest financial centres and those in frontier markets.