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By Chinwendu Obienyi and Chukwuma Umeorah
Central Securities Clearing System Plc (CSCS) has appointed Nonso Okpala, Group Managing Director/CEO of VFD Group, into its Board.
Okpala also sits on Nigeria’s premiere stock exchange board, Nigeria Exchange Group (NGX) as Non-Executive Director.
Under his leadership, VFD Group has evolved from an initial capital of 2.5 million Naira to a company with assets now exceeding 200 billion Naira, with investments spanning over 40 businesses across various sectors of the Nigerian economy.
He has led eight capital raises, setting and exceeding targets, building a reputable brand that transitioned from listing on the National Association of Security Dealers (NASD) to the Nigeria Exchange Limited (NGX) in just four years. This achievement earned VFD Group the “Equity Listing of the Year Award” at the Made of Africa Awards in December 2023.
Okpala believes that attracting the continent’s 60 million youths to the capital market is essential for driving innovation and adaptability. He is a strong advocate for the development of alternative exchanges and the integration of cutting-edge technology. By attracting young, tech-savvy individuals to the capital market, there is a significant opportunity to enhance efficiency, transparency, and accessibility. This infusion of innovation can catalyze growth not only in alternative exchanges but also benefit the traditional stock market by introducing new perspectives and methodologies.
Okpala began his career as a Senior Auditor at KPMG Professional Services (Nigeria), and later served as the Director of Finance/CFO at Heirs Holdings Ltd. His appointment to the board of CSCS and the NGX is critical to the development and enhancement of the market infrastructure and exchange business in Nigeria. He has sat on both the Board of Abbey Mortgage Bank and Anchoria Asset Management as Non-Executive Director where he appropriates strong governance practices for sustainability.
Okpala’s appointment is expected to strengthen CSCS’s governance structure, fostering confidence among investors and stakeholders in the company’s commitment to corporate governance and accountability standards.
