Alhaji Aliko Dangote has emerged the 17th president of the Nigerian Stock Exchange (NSE) on Thursday in Lagos through a unanimous voice vote.
Alhaji Aliko Dangote is the President of Dangote Group of companies comprising Dangote Sugar; Dangote Flour Mills; Benue Cement Company; Obajana Cement and Dangote Oil, among others. The first Nigerian to feature on Forbes list of the World’s richest men,. last year, he emerged as the world’s richest black African with a ranking of 334 and a fortune of $3.3 billion. Otudeko said of his successor: “He is also a player and has stakes in the market with some of his companies listed. He would guard against all that might affect the market negatively.”
On demutualisation, the NSE DG said that the Exchange did not abandon the process, “but the council has put it aside to allow management with the collaboration of the Securities and Exchange Commission (SEC) and the Central Securities Clearing System (CSCS) to create more awareness to the public.”
At the close of market yesterday key indicators returned to the green side of the table appreciating by 0.3 per cent each.
Market capitalization added N15billion to close at N5.776million while the All-Share-Index improved by 66.65 points to close at 25,195.66 point.