By Aduragbemi Omiyale
The Group Managing Director/CEO of VFD Group, Mr Nonso Okpala, has been appointed to the board of Central Securities Clearing System (CSCS) Plc.
The financial services guru is expected to bring his experience to the highest governing organ of the premier financial market infrastructure company in Nigeria.
It is anticipated his addition to the CSCS board would strengthen the organisation’s governance structure, instilling confidence among investors and stakeholders in CSCS’ commitment to upholding the highest standards of corporate governance and accountability.
Since he began his career as a Senior Auditor at KPMG Professional Services (Nigeria), and later as the Director of Finance/CFO at Heirs Holdings Limited, Mr Okpala has sat on both the board of Abbey Mortgage Bank, Anchoria Asset Management, and the Nigerian Exchange (NGX) Group Plc, where he appropriates strong governance practices for sustainability.
The NGX Group appointment was the most recent before the CSCS board appointment.
Since he joined the NGX Group board about a year ago, his contributions as lead of the Strategy Committee has been instrumental in supporting the vision of the organisation’s leadership in positioning it as the strongest exchange in the world, achieved in January 2024.
His appointment to the boards of CSCS and NGX Group is critical to the development and enhancement of market infrastructure and exchange business in Nigeria.
Mr Okpala believes that attracting the continent’s 60 million youths to the capital market is essential for driving innovation and adaptability.
His vision extends beyond traditional stock markets to advocate 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 catalyse growth not only in alternative exchanges but also benefit the traditional stock market by introducing new perspectives and methodologies.
The new CSCS board member has been instrumental to the fast growth recorded by VFD Group, a firm that has evolved from an initial capital of N2.5 million to a company with assets now exceeding N200 billion, with investments spanning over 40 businesses across various sectors of the Nigerian economy.
Leading over eight successful capital raises, Mr Okpala has built a reputable brand that transitioned from listing on the National Association of Security Dealers (NASD) to the NGX Limited 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.