NASD appoints Mrs. Arese Ugwu as Acting Managing Director of OTC Exchange

NASD announced on Friday, September 12, 2026, via its Instagram handle that Mrs. Arese Ugwu has been appointed Acting Managing Director, succeeding Mr. Eguarekhide Longe. In her first statement, Mrs. Ugwu said her vision is to make NASD the market where Nigeria’s great growth businesses find the capital they need to scale and where investors can participate in the value they create.

The over‑the‑counter securities exchange, which trades non‑listed securities, previously had pioneer MD Bola Ajomale, who retired in July 2022 and is now Director of Market Operations at the Securities and Exchange Commission (SEC). Mr. Longe served as MD from Ajomale’s retirement until this appointment.

NASD operates as Nigeria’s self‑regulatory OTC exchange, providing a platform for companies not listed on the main stock exchange to raise capital and for investors to trade those securities. The leadership change comes as the exchange seeks to deepen its role in financing growth‑stage businesses across sectors.

For entrepreneurs and investors looking to access alternative funding routes, the new leadership may signal shifts in listing requirements, investor outreach, or market surveillance policies that could affect how easily they can list or trade securities on NASD.

SOURCE: https://nairametrics.com/2026/09/18/nasd-appoints-mrs-arese-ugwu-as-new-acting-managing-director/