Head of the NSSMC may be dismissed: political implications and search for a replacement
13 June 2025 12:19
Financial and political circles are discussing the possibility of dismissing the head of the National Securities and Stock Market Commission (NSSMC), Ruslan Magomedov. The information, which first appeared as a rumor, has now been confirmed by one of the MPs, "Komersant Ukrainian" reports.
According to Yaroslav Zheleznyak, a member of the Voice faction, the Presidential Office is indeed “looking for a replacement” for Magomedov.
“According to my information, this is true. They have been looking for a replacement for a couple of months. But I see a political reason for this rather than the ones listed by the EP in the article (we are talking about the article: “How to circumvent currency restrictions with the help of public debt: a recipe from Kyivstar, Kernel and ICU”. To be more precise, there are these reasons too, but let’s be honest – no one is going to fire the head of the AMCU with two NABU suspicions already. And then there are some government bonds…” the politician wrote.
Reasons for the possible dismissal
According to various media outlets and individual politicians, the reasons for Magomedov’s possible dismissal may lie in the following:
- Personnel shortcomings, namely, the delay in the process of vetting the members of the Commission
- Delays in fulfilling the NBU’s requirement to ban the sale of foreign currency bonds to non-bank companies (the reason stems from the NBU’s repeated appeals to the NSSMC on this issue)
- Potential conflict of interest (this is the reason cited by EP journalists – ed.).
- Political overtones. MP Zheleznyak comments on the latter, hinting that Magomedov did not so much fail in his job as probably became inconvenient for certain government officials.
Candidates for replacement
According to the sources of the editorial board, some current representatives of the Commission, namely, the Chief of Staff of the NSSMC Mykhailo Yanchuk and a member of the Commission Maksym Libanov, may be among the potential candidates for the post of the NSSMC chairman, but no one has officially confirmed this information to the editorial board.
Who is Ruslan Magomedov?
Ruslan Magomedov has been the head of the NSSMC since February 2021. Prior to that (in 2020), he was a freelance adviser to the head of the President’s Office, Andriy Yermak, and a member of the competition commission for the selection of independent members of the supervisory boards of state-owned banks.
In February, Magomedov got into a public scandal for traveling abroad to attend “conferences” at the expense of the SFG Public Union, whose activities were linked by the media to Artem Kolyubayev. The latter was called “a business partner of the head of the Prosecutor General’s Office, Andriy Yermak” by the investigators of the Prosecutor General’s Office.
