06 January 2016, Lagos – The Nigerian Stock Exchange (NSE) on Tuesday announced the appointment of Mr. Fubura Anga as the chairman of the Board of Trustees of its Investors’ Protection Fund . According to the NSE, the appointment of Anga follows the demise of previous Chairman of the IPF, Mr. Gamaliel Onosode late last year.
Anga, a partner at AELEX, one of the leading commercial and litigation law firms, joined the IPF Board of Trustees in September 2012. He has a strong multi-disciplinary background in law, economics, management and fiscal policy and is qualified to practice law in Nigeria, England and Wales and in Ghana.
According to the NSE, the new chairman was a contributor to the chapter on Nigeria for the Harvard Securities Project and Chairman of the CBN SMIES policy guidelines review committee.
Commenting on the appointment of Anga, Chief Executive Officer of the NSE, Mr. Oscar Onyema said: “I very much look forward to continuing the excellent working relationship between the new chairman and other Trustees of the IPF Board with the exchange in our collective quest to promote strong corporate governance in our market whilst stepping up to compensate investors in our market when the need arises. I am strongly convinced that having been part of the development of the IPF and its compensation framework, the chairman will be able to provide quality leadership and steer towards the realisation of the Fund’s objectives to the delight of investors who continue to repose confidence in the capital market despite the challenging times.”
Accepting the appointment, Anga said “I am honoured to have been asked to take this role, and excited about the possibilities that lie in future for the capital markets in Nigeria. Having crossed the hurdle of paying first set of claimants under the Fund, we now have learning to rely on in the speedy but thorough examination of claims to compensate investors for pecuniary losses suffered by them as a result of wrong doing by certain dealing member firms of the NSE.
The Board will continue to do its best to move the Fund forward.