The Nigerian Exchange Group (NGX Group) is set to reconstitute its board to reflect shareholding structures.
According to a report by Nairametrics, the board of the Nigerian Exchange Group, owners of the Nigerian Exchange now includes UBA nominees ltd and Cardinal Stone Partners ltd as shareholders with substantial interest.
The report noted that the board of the exchange will now be reconstituted to reflect the shareholdings.
NGX has been enmeshed in controversy following the group’s planned private equity raise of N35 billion. Also, the staff shareholding incentive scheme and the tenure of current Group Chief Executive Officer, Oscar Onyema have stirred reactions from stakeholders.
The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group is a Nigerian stock exchange founded in 1961 in Lagos.
