NG Clearing, the premier Central Counterparty in West Africa, has announced the appointment of Mr. Farooq Adedayo Oreagba as its new Managing Director and Chief Executive Officer (CEO).
This appointment is pending approval from the Securities and Exchange Commission (SEC).
The Board of Directors of NG Clearing, in a unanimous decision, has chosen Mr. Oreagba to assume this prestigious role, acknowledging his remarkable accomplishments and expertise within the financial services sector.
Mr. Oreagba brings to this role a wealth of experience, having served in various executive leadership positions throughout his illustrious career.
His demonstrated track record in driving innovation, cultivating a customer-centric culture, and delivering sustainable growth closely aligns with NG Clearing’s core values and strategic objectives.
Mr. Oscar N. Onyema, OON, Chairman of the Board of Directors of NG Clearing Limited, commented on the appointment, saying, “After a transparent, competitive, and comprehensive search process, the Board is delighted to have identified the most suitable individual to lead this world-class organization. We are excited to welcome Mr. Oreagba as our next MD/CEO, and we are confident that his visionary leadership will further solidify NG Clearing’s position as a pivotal Financial Infrastructure in Nigeria’s financial services sector.”
The appointment of Mr. Oreagba follows the completion of Mr. Tapas Das’s three-year tenure as the former MD/CEO.
During Mr. Das’s remarkable leadership, NG Clearing achieved extraordinary milestones, including the historic clearance of the first exchange-traded derivatives contracts in West Africa.
Under his guidance, NG Clearing established a world-class clearing and settlement system that seamlessly integrated with key exchanges in Nigeria’s financial markets.
In response to his appointment, Mr. Oreagba stated, “NG Clearing has achieved significant milestones on its path to becoming Africa’s most trusted Central Counterparty. I am confident that my appointment is aligned with the company’s vision. With the support of the Board, I eagerly anticipate collaborating closely with the entire NG Clearing team to break new ground in the market in the foreseeable future.”
