By Goddy Egene and Nosa Alekhuogie
The President, Chartered Institute of Stockbrokers (CIS) Mr. Oluwaseyi Abe on Friday
unfolded a four-point agenda designed to accelerate capital market development.
Addressing the stockbrokers on floor of the Nigerian Stock Exchange (NSE), Abe listed the agenda to 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 NASD OTC Securities Exchange, FMDQ OTC Securities Exchange and Abuja Commodities Exchange have created alternative platforms for stockbrokers to practice.
He noted that the new trend in the financial market required additional skills on the part of Stockbrokers.
He noted that the Institute’s Continued Professional Development (CPD) has been expanded to bridge the skill gaps and position the Stockbrokers to key into emerging opportunities.
Abe explained that investor education has become more compelling as new products are being introduced into the market, there is the need for investors to understand the benefits and risks of investment in the capital market. The CIS boss 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.
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.
He commended the management of the NSE on its efforts aimed at developing the market and assured the exchange of the Institute’s continued collaboration to globalise the market.
In his remarks, Executive Director, Market Operations and Technology, Mr. Ade Bajomo described the CIS 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.