Nigerian Bank Nigeria Nigerian Stock Exchange – Asinobi, CSCS Boss, Opt For Voluntary Retirement

Source: Guardian, March, 2011

AFTER 14 years in service, the Managing Director/Chief Executive Officer of Central Securities Clearing System (CSCS) Limited, Onyewuchi Asinobi is to retire from the establishment with effect from May 31, 2011.

Presently the Chief Executive Officer of the organisation, Asinobi explained in an interview with The Guardian that he has formerly informed staff of CSCS of his plan to retire.

Addressing CSCS staff according to another source, Asinobi said:“Now that I have achieved my vision to establish a clearing house that is efficient, highly reliable and trusted to further deepen the nation’s capital, it is time to move on and allow a fresh blood to continue from where I stopped.”

Asinobi became the CEO of CSCS on December 11, 1997. He joined the Nigerian Stock Exchange (NSE) in 1990 as the Branch Manager of Port Harcourt branch of the Exchange.

In November 1993, he was transferred to Lagos to commence the CSCS project and in 1994, he was appointed the Chief Operating Officer of the CSCS, which was an equivalent position of General Manager at the NSE.

Asinobi disclosed recently that CSCS has cleared and settled shares’ transaction valued at N798 billion in 2010 as against N685.7 billion in 2009, representing an increase of 16.4 per cent

He also disclosed that CSCS has cleared and settled shares’ transactions worth N7.2 trillion from 1997 to 2010.

Nigerian Bank Nigeria Nigerian Stock Exchange