NSE mourns Onosode’s death

Deacon Gamaliel Onosode
| credits: picasaweb.google.com

The Nigerian Stock Exchange has said it is in mourning following the death of Nigeria’s first indigenous stockbroker, Dr. Gamaliel Onosode on Tuesday at the age of 82.

The Chief Executive Officer, NSE, Mr. Oscar Onyema, was quoted in a statement by the Exchange as saying, “We received the saddening news of Dr Gamaliel Onosode’s death. This is a great loss to the Nigerian capital market. He was an exceptional, forthright and inspirational leader whose life exemplifies all the values dear to the NSE.”

Onyema, who explained that Onosode was a man of integrity, said he was the best the Exchange could find as the Chairman of the Board of Trustees for the NSE’s Investors’ Protection Fund, when it decided to re-operationalise the Fund in 2012.

He added, “We will be solely miss him. However, we take solace in his laudable achievements which will remain indelible in the annals of Nigeria’s history. On behalf of the Council, Management and Members of the NSE we offer our heartfelt condolence to the Onosode Family. Our thoughts and prayers are with them at this challenging time.”

On the contributions of the late Onosode to the capital market, the Exchange noted that he chaired quoted companies across diverse sectors, including blue chip firms like Cadbury.

He also founded the first indigenous stockbroking firm, Nigeria Stockbrokers Limited, where he was chairman until his demise.

He was the inaugural chairman of the Investors’ Protection Fund; former council member of the Nigerian Stock Exchange; council member, Chartered Institute of Stockbrokers; and chairman, Board of Fellows, Chartered Institute of Stockbrokers.