NCX Reconstitutes Board, Executive Management
BY COBHAM NSA – The Nigeria Commodity Exchange Plc (NCX) has announced the reconstitution of its Board and Executive Management as part of efforts to transform itself into a world-class commodity trading company.
Rising from an Extraordinary General Meeting (EGM) on January 4, 2022, all the shareholders unanimously approved the appointments of three new Directors listed as Mrs Aishah N. Ahmad; Dr Angela Sere-Ejembi; and Mr. Phillip Yila Yusuf.
In a statement titled; Re-Constitution of the Board and Executive Management of the Nigeria Commodity Exchange Plc and dated January 5, 2022, the NCX said the meeting also resolved that the Transition Management Team (TMT), headed by Mr. Elenwor Ihua, acting as Interim Coordinator, should temporarily oversee the Exchange’s operations.
Also, the statement said the TMT has been mandated to supervise an independent and transparent process aimed at appointing a new Executive Management Team.
Signed by its Acting Head of Corporate Communications, Abiodun Sanusi, the statement read thus; “The Nigeria Commodity Exchange Plc (NCX) hereby informs the public that in line with the provisions of the Companies & Allied Matters Act (CAMA) 2020, an Extraordinary General Meeting of the NCX held on January 4, 2022, at which all shareholders unanimously approved the following resolutions:
“i. The retirement of Directors; ii. The appointment of three new Directors – Mrs. Aishah N. Ahmad, Dr Angela Sere-Ejembi, and Mr. Phillip Yila Yusuf.”
It further stated; “Mrs. Ahmad was subsequently appointed Chairman of the Board at the inaugural board meeting, which also held on January 4, 2022. 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 operations of the Exchange, supervising an independent and transparent process to appoint a new Executive Management Team.
“The core shareholders of the NCX thank the outgoing Board and Executive Management for their patriotic service to the company and wish them 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 markets”, the statement said
