The IMF and the NBU have deprived Ruslan Magomedov of control over the National Depository of Ukraine

The IMF and the NBU have deprived Ruslan Magomedov of control over the National Depository of Ukraine

Scandalous director of the "cemetery" (NSSMC) Ruslan Magomedov, after an endless series of scandals and the IMF’s demand for his dismissal, lost control over the National Depository of Ukraine (NDU)

This was reported by the Telegram channel VYY.Ukraine

As it became known, the NBU will receive the state share in the National Depository of Ukraine (NDU), which was previously managed by the NSSMC.
The corresponding directive was adopted at the Cabinet of Ministers meeting on September 22.

The document also nullifies the 2013 government directive on defining the NSSMC as the governing body for the state’s share in the NDU’s capital.

As of the end of June 2025, the NBU directly owned 25% of NDU shares and an additional 10.93% through its corporate pension fund.

Oschadbank and Ukreximbank, accountable to the NBU, owned 24.9903% and 9.9903% of the depository’s shares, respectively.
The NSSMC managed the state’s 25% share, which will now transfer to the National Bank.

Thus, the NBU will directly manage 50% of NDU’s shares, and considering the pension fund, 60.93% in total.

The National Depository accounts for ownership rights of all issued securities in Ukraine, except for state loan bonds (both domestic and foreign), which are serviced by the NBU depository. According to the memorandum with the EBRD, these functions will eventually transfer to the NDU.

From January 1, 2024, the NDU also provides services for recording ownership rights to shares in limited liability companies (LLCs) and additional liability companies (ALCs).

Thus, Magomedov has completely lost trust and business reputation not only with the IMF but also with the NBU.

Today, the issue of his replacement in the NSSMC is being resolved.