Lagos, Nigeria — In a significant development for regional financial markets, Jude Chiemeka, Chief Executive Officer of the Nigerian Exchange Limited (NGX), has been appointed as the Chairman of the West African Capital Markets Integration Council (WACMIC). The announcement has drawn widespread reactions from market professionals and industry bodies.
The congratulatory message, shared on social media, celebrated Chiemeka’s elevation to the leadership of the council, which brings together chief executives of securities exchanges and regulatory bodies across West Africa with a mandate to deepen capital market integration and foster cross-border investment.
A seasoned capital markets expert, Chiemeka took over as CEO of NGX, Nigeria’s primary securities exchange, on July 1, 2024, following regulatory approval by the Securities and Exchange Commission.
His appointment to the top role at NGX followed decades of experience in securities trading, asset management and market operations.
The West African Capital Markets Integration Council was established in January 2013 to harmonize regulatory frameworks and create a unified environment for the listing, trading and settlement of securities across the Economic Community of West African States (ECOWAS). The council’s long-term vision is a fully integrated West African capital market that enables investor access across national borders and supports deeper liquidity in regional markets.
Under its strategic road map, the WACMIC initiative is implementing phased integration from sponsored access and mutual recognition of brokers to a virtual West African Securities Market where participants can trade seamlessly across countries.
Industry stakeholders have lauded Chiemeka’s new role, calling his leadership “a testament to his strategic vision and experience in advancing market growth”. Financial professionals noted that his dual roles — as CEO of NGX and chairman of WACMIC — position Nigeria to play a pivotal role in shaping inter-regional financial collaboration.
As capital markets across Africa continue to evolve, the appointment of a Nigerian exchange chief to the head of a key regional integration council reflects increasing collaboration among West African economies. The advancement of WACMIC’s integration agenda may help unlock new investment opportunities and deepen market participation within the region.