VFD Group Chairman Nonso Okpala joins CSCS Board

In a strategic move aimed at bolstering its governance framework and market infrastructure, Central Securities Clearing System Plc (CSCS), Nigeria’s leading Financial Market Infrastructure company, has welcomed to its Board of Directors, VFD Group CEO Nonso Okpala.

Nonso Okpala, the esteemed Group Managing Director and Chief Executive Officer of VFD Group, brings a wealth of experience and expertise to the table. With a distinguished career trajectory that includes roles at KPMG Professional Services and Heirs Holdings Ltd, Okpala has demonstrated remarkable leadership in driving business growth and transformation.

He currently serves as the Group Managing Director and Chief Executive Director of VFD Group, a proprietary investment company with diversified portfolio – a company he co-founded with a group of astute professionals 15 years ago.

Last year, shareholders of the Nigerian Exchange Group Plc approved Mr. Okpala’s appointment as a Non-Executive Director as part of NGX’s efforts toward its board’s reconstitution. Nonso’s appointment to the board of CSCS and the NGX is critical to the development and enhancement of the market infrastructure and exchange business in Nigeria, which VFD Group, a company with significant holding in the NGX has recently been advocating.

Nonso’s business turn around capabilities has been evident in the evolution of VFD Group from initial capital of 2.5 million Naira to a company with current asset value at over 200 billion Naira and investment in over 40 businesses across diverse sectors of the Nigerian economy. He led the eight capital raises, setting and exceeding targets, building a reputable brand that transitioned from listing on the National Association of Security Dealers (NASD) to the Nigeria Exchange Limited (NGX) in just four years, a nontraditional feat further clinching the “Equity Listing of the Year Award” at the Made of Africa Awards in December 2023.

Mr. Okpala is a Non-Executive Director of Abbey Mortgage Bank, the oldest Mortgage bank in Nigeria currently valued at over 60 billion Naira from 6 billion prior to VFD Group’s investment and institution of strong corporate governance practices.

It is believed that his presence on the CSCS Board will enhance the company’s governance structure, instilling confidence among investors and stakeholders in CSCS Plc’s commitment to upholding the highest standards of corporate governance and accountability.

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