Nigerian Exchange Group Plc and its subsidiaries deeply mourn the loss of one of its founding fathers, Pa Akintola Williams, CFR, CBE, FCA, who died on Monday at the remarkable age of 104.

Pa Williams was instrumental in establishing the Nigerian Stock Exchange (NSE), now Nigerian Exchange Group Plc following its demutualisation in 2021. As a member of the National Council of the Exchange, his contributions significantly fostered the expansion of the Exchange’s listing portfolio, and he played a pivotal role in instituting regulations that lowered the hurdles for companies seeking to be listed on The Exchange.

Commenting, the Group Chief Executive Officer of NGX Group, Mr. Oscar N. Onyema, OON, expressed, “This is a profound loss for the Nigerian capital market and the nation as a whole. Nigeria bids farewell to one of its most distinguished professionals and forward-thinking corporate leaders. His memory is forever etched in the history of Nigerian capital market as one of the greats. Pa Akintola Williams’ contributions to the capital market and organized private sector will remain enduring references, and we deeply appreciate his contributions.

“He was all about a strong ethical culture and upholding top-notch professionalism. The recent collaboration between NGX Regulations, a subsidiary of the NGX Group and Institute of Chartered Accountants of Nigeria (ICAN) is a testament to the solid groundwork Pa Akintola laid in the accounting industry. His visionary leadership, standard of excellence and legacy will be cherished and upheld by all of us who had the privilege of witnessing his remarkable achievements”, Onyema added.

Pa Akintola was the last surviving signatory to the original Memorandum and Articles of Association of the Nigerian Stock Exchange at the founding of the NSE on September 15, 1960.