Dangote steps aside as Stock Exchange boss

by Tunji Andrews

Africa’s richest man and president of Dangote Group, Aliko Dangote will finally resign as President of the Council of the Nigerian Stock Exchange (NSE). A move many expected to happen in July this year, after he announced in May that he would step aside before the end of his tenure to focus on expanding the footprint of his company in Africa.

Alhaji Dangote, who became the seventeenth president of the bourse in August 2009, indicated his intention to step down during the Exchange annual general meeting which was set to hold in July, before the end of his three year tenure, with former Group Managing Director/CEO of Access Bank Plc and First Vice-President of the council, Mr Aigboje Aig-Imuokhuede, a successor. Aig-Imuokhuede is a man Dangote believes will ensure that the exchange continues to have a good relationship with the market regulator and others in government.

Aig-Imuokhuede trained as a lawyer at the University of Benin. He started his banking career with Continental Merchant Bank where he worked at its legal department. From there he moved into core banking in Prime Merchant Bank, Guarantee Trust Bank and finally Access Bank where he became its Managing Director in 2002.

Culled from www.ynaija.com