The controversy surrounding his candidacy, the Council of the Nigerian Stock Exchange (NSE), yesterday elected foremost industrialist, Alhaji Aliko Dangote as its 17th President.
He was elected by what the NSE described as "unanimous acclamation."

Director General of NSE, Prof. Ndi Okereke-Onyiuke, who spoke with journalists after the election, held behind closed-doors, said the council members were unanimous in Dangote's choice.

The first president to be unanimously elected, according to the NSE's DG was Sir Odumegwu Ojukwu who was President of the NSE between 1963 to 1966.

In his remark, Dangote said the Nigerian Capital Market would rebound, adding that there was the need to create liquidity, which, according to him would lead to confidence building.

Dangote, who joined the Council of the Exchange in February, 2008 as the Chairman of Kaduna/Kano/Yola Zonal Council succeeded Dr. Oba Otudeko.

He will preside over the affairs of the Exchange for a period of three years.
Also, the Council elected Chief Reginald Abbey Hart and Dr. Erastus Akingbola as the 2nd Vice President and 1st Vice President respectively.

Chief Hart is the Chairman, Port Harcourt/Onitsha Zonal Council, which comprise Rivers, Bayelsa, Anambra, Enugu and Benue while Akingbola is the chairman of Ibadan Zonal Council covering Oyo, Osun, Ogun, Kwara, Kogi and Ekiti states.

Earlier, in his address during the yearly general meeting, Oba Otudeko said that during his tenure, efforts made to deepen the stock market achieved some degree of success.

He pointed out that during his reign, the Exchange facilitated transaction that led to the successful issuance of Global Receipt (GDR) by Diamond Bank Plc and Guaranty Trust Bank Plc on the London Stock Exchange, adding that the process led to expanding the financial options for listed companies.

Meanwhile, journalists were yesterday initially barred from the NSE's meeting. Otudeko ordered all reporters within the hall to leave.

It, however, took the intervention of the Assistant General Manager/Head, Corporate Affairs, Sola Oni, for journalists to be allowed to cover the proceedings.


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