The President, Chartered Institute of Stockbrokers (CIS) Mr. Oluwaseyi Abe has assured The Nigerian Stock Exchange of continued collaboration of the Institute in order to build a strong and virile capital market in Nigeria.
Besides, Abe who unfolded the four-point agenda of the Institute appealed to the Stockbrokers to work very closely with the CIS for enhanced professional development in view of the expanding nature of capital market operations.
Addressing the Stockbrokers on The Nigerian Stock Exchange (NSE) trading floor on the courtesy visit of the new administration of the CIS, Abe announced that the Institute had designed four-point agenda to accelerate capital market development. They are: Rebranding, Education, Collaboration and Partnership (RECP).
He explained that Stockbrokers are being prepared to rebrand in order to take their rightful position in the financial market. According to him, the market seemed gloomy at the present but there is hope that it would bounce back. He stated that other exchanges such as National Association of Securities Dealers (NASD), Financial Market Dealers Quotation (FMDQ) Plc and Abuja Commodities Exchange had created alternative platforms for Stockbrokers to practice.
Abe explained that the new trend in the financial market required additional skills on the part of Stockbrokers. He noted that the Institute Continued Professional Development (CPD) had been expanded to bridge the skill gaps and position the Stockbrokers to key into emerging opportunities.
Speaking on education, he explained that Investor Education had become more compelling as new products are being introduced into the market and the more investors understand the benefits and risks of investment in the capital market. Abe stated that the Institute had placed premium on the need to intensify efforts aimed at creating more awareness of the relevance of the market to all categories of existing and potential investors who beat the closing gong yesterday.
Abe who beat the closing gong commended the management of The Nigerian Stock Exchange on its efforts aimed at developing the market. He assured The Exchange of the Institute continued collaboration to globalise the market. He noted that the capital market regulators and operators had always worked on the same goal of market development.
According to him, collaborative efforts have become more compelling in view of the challenges of globalization. He explained that the CIS would always be prepared to partner with individuals and institutions that share common values on the growth and development of the capital market.
Abe assured the Stockbrokers that the current economic challenges would soon be over urged them to partner with the Institute for enhanced professional development. Specifically, he advised them to support the new Principal Officers and pay their subscription regularly.
Recently, the Institute came up with the innovative ideas aimed at enhancing the profile and bottom line of the organisation for the greater benefit of the market and members. In all these, let us envision togetherness in unity of purpose. I see a greater future of the market, Stockbrokers and the Institute, Abe said.
The Exchange Executive Director, Market Operations Information Technology, Mr. Ade Bajomo described the Institute as a major stakeholder in the capital market and assured the new Principal Officers of continued support in all market activities. He reiterated the need to sharpen the operators skills in order to enhance their roles of financial intermediation.
The Doyen of Stockbrokers, Mr. Sam Ndata also commended the Institute new leadership and assured Mr. Abe of Stockbrokers support. Mr. Abe was accompanied by the First Vice President, Mr. Dapo Adekoje, the Registrar and Chief Executive, Mr. Adedeji Ajadi and some Council members of the Institute.