The Nigerian Exchange Group (NGX Group) Plc will today list its shares on the Nigerian Exchange (NGX) Limited.

NGX Group will list 1.96 billion ordinary shares of 50 kobo each by way of listing by introduction on the main board of NGX.

Ahead of the listing, NGX yesterday announced the resignation of Mr. Oscar Onyema as non-executive director. The resignation was with immediate effect.

Onyema’s resignation comes on the back of the imminent listing of NGX Group, where he serves as the Group Managing Director.

Consequent upon the resignation, NGX has upheld Rule 184(2)(a) of the Securities and Exchange Commission Consolidated Rules 2013 which states that “A securities exchange shall have a code of conduct for its council members or board which shall be approved by the Commission, and shall contain amongst others the following provisions, to wit, that the council members or board shall: (a) not be a staff of a quoted company and its subsidiaries.”

Chairman, Nigerian Exchange (NGX) Limited, Mr. Abubakar Mahmoud commended Onyema for his selfless service to the Exchange.

“As he transitions into this new phase as the GMD of a listed company, we reiterate our commitment to act in the best interest of all issuers to the benefit of all stakeholders in the capital market,” Mahmoud said.

Chief Executive Officer, Nigerian Exchange (NGX) Limited, Mr. Temi Popoola noted that NGX owes its solid foundation to the effort of leaders like Onyema who worked tirelessly to build a capital market infrastructure anyone can be proud of.

“During his time as a non-executive director on the board of NGX, he brought to bear his wealth of experience and the unique institutional knowledge he possesses and we are grateful for that,” Popoola said.

To commemorate the listing of NGX Group on NGX, Popoola will host the Group Chairman, NGX Group, Otunba Abimbola Ogunbajo and Onyema and other key stakeholders to a virtual closing gong ceremony today