NCX shareholders approve board reconstitution

COMFORT EKELEME, BUSINESS EDITOR

Shareholders of the Nigeria Commodity Exchange Plc (NCX) Tuesday at an Extraordinary General Meeting (EGM) unanimously approved the re-constitution of the board and executive management of the Exchange.

The meeting was held in line with the provision of the Companies& Allied Matters Act (CAMA) 2020.

In a statement signed by the Ag. Head, Corporate Communications, Abiodun Sanusi, all shareholders approved the following the retirement of Directors, the appointment of three new directors, Mrs. Aishah N Ahmad, Dr. Angela Sere -Ejembi, and Mr. Philip Yila Yusuf.

According to the statement, Mrs. Ahmad was subsequently appointed chairman of the Board at the inaugural board meeting which was held on January 4, 2022, adding that additional board appointments will be made in due course.

The newly reconstituted board along with a transition management team, headed by Mr. Elenwor ihua, acting as Interim Coordinator, will temporarily oversee the operation of the Exchange, supervising an independent and transparent process to appoint a new executive management team.

“The core shareholders of NCX thank the outgoing board and executive management for their patriotic service to the company and wish them well all the best in their future endeavours,

“This development marks a critical milestone in the journey to transform the NCX into a world-class commodity trading company within the African and global commodity market,” the statement said.

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