Oscar Onyeama, the Chief Administrative Officer of the American Stock Exchange (AMEX), will become the substantive Managing Director/Chief Executive Officer of the Nigerian Stock Exchange (NSE). Onyeama beat two others - Yvonne Ike, a former staff of JP Morgan in the United States and  Bola Onadele, the CEO of Datanet Limited - following a rigorous selection process.

He is to replace Ndi Okereke-Onyiuke who was removed on August 04, 2010 by the Securities and Exchange Commission (SEC).

It is understood that the SEC is still awaiting nominations for other positions from the Council of the Exchange.

Onyeama was one of 131 who applied for the job. The number  was scaled down to  eight applicants who were interviewed by a recruitment panel which included the Johannesburg Stock Exchange (JSE), Accenture, a Council Member of the NSE and Emmanuel Ikazoboh, Interim Adiministrator of Nigeria’s Exchange.

It was gathered that the main attributes sought in the selection process were  integrity, good corporate governance, entrepreneurship prowess and ability to manage stakeholders. The Council of the Exchange was said to be comfortable with Onyeama because of his pedigree.

His selection by the Council of the Exchange has already been communicated to the SEC who is understood to also want to conduct its own independent search on the candidate.


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