The board and executive management of the Nigeria Commodity Exchange have been reconstituted. This took place at an extraordinary meeting of the organization which took place on January 4, 2022.
At the meeting the shareholders unanimously approved the following resolution:
A. Retire all the directors
B. Appoint three new directors, namely Aishah N Ahmad, Angela Sere – Ejembi and Phillip Yila Yusuf
Mrs. Aishah Ahmad was subsequently appointed as the chairman of the board at its inaugural meeting, which was also held on January 4, 2022. Additional board members are to be appointed in due course.
The newly reconstituted board along with the Transition Management Team, headed by Elenwor Ihua, will temporarily oversee the operation of the exchange, supervising an independent and transparent process appointment for a new executive management team.
The core shareholders of the NCX thanked the outgoing board and executive management for their patriotic management of the company and wish them the best in their future endeavours.
According to a press statement signed by Abiodun Sanusi, acting head, Corporate Communications, this development marks a critical milestone in the journey to transform NCX into world-class commodity trading company within Africa and global commodity markets