Nigeria, Sept. 19 -- The National Association of Securities Dealers (NASD) appointed Arese Ugwu as its new Acting Managing Director, after serving a five-year regulatory suspension from capital market activities.

The over-the-counter market and self-regulatory organisation disclosed the appointment in an X post on Thursday, noting that it is subject to the approval of the Securities & Exchange Commission.

"The Board of Directors of NASD PLC has appointed Ms. Arese Ugwu as Acting Managing Director. Her appointment to act in this capacity is subject to the approval of the Securities & Exchange Commission," NASD said.

Ms Ugwu succeeds the immediate past Managing Director, Eguarekhide Longe, who recently retired after years of service in t...