NSE boss, Onyema among 10 most powerful men in Africa– Forbes


Oscar-OnyemaThe Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema is on Forbes list as one of the 10 most powerful men in Africa in 2015.
Although the NSE All Share Index (ASI) is down by 15.3 percent year to date and was one of the worst performing stock exchanges last year. However, that was not enough to stop the NSE boss Oscar Onyema from being included in the Forbes list of top ten most powerful men in Africa.
Forbes in its remarks said, as a testament to his contributions to the capital markets in Nigeria, in 2014, Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange, was made an Officer of the Order of the Niger (OON) in “recognition of his contribution to economic development, the transformation of the Nigerian Stock Exchange and the Nigerian capital markets”.
It added that with the Nigerian bourse taking a beating in recent months; with the total market capitalization of the NSE, valued at N19.08 trillion,an equivalent of ($119.41 billion USD) in 2013, felled to N16.88 trillion ($90.68 billion USD) at the end of 2014, a decrease of 11.53 percent in Naira terms, Onyema has had to work in overdrive to restore investor confidence in one of Africa’s largest capital markets.
According to Forbes, the list recognizes Africa’s top men leading in the continent’s change and transformation. It is interesting to note that no other Nigerian made the list except Onyema. He has for years been pushing to take Nigerian stock exchange to the $1trillion mark.
However, since he became the CEO about four years ago, the Market Capitalisation   of the exchange has not crossed $100billion way short of his target $1trillion.
For the first time, no one African country dominated the list; with 10 African countries represented indicating that change is not just confined to a particular region in Africa but is occurring throughout the continent.


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