Chartered Institute of Stockbrokers unveils honour roll, seeks funding support
By Kayode Tokede
The Chartered Institute of Stockbrokers (CIS) has unveiled a Roll of Honour for 57 companies and 24 individuals that supported its acquisition and renovation of a new corporate headquarters.
The President/Chairman of the Council, Mr Olatunde Amolegbe disclosed this at the unveiling and inauguration of the special facilities at the new headquarters, on Wednesday, in Lagos.
Amolegbe also said that the institute was seeking grants and other forms of financial support from market regulators.
He appreciated all institutions and individuals that contributed towards the acquisition and renovation of the new secretariat and appealed for more support.
Amolegbe explained that the institute needs more funds to enable it operate optimally, given its strategic roles of capacity building, certification and advocacy.
“As the training and certification body within the Capital Market, our institute requires sustainable financing that goes beyond members’ annual subscriptions.
“I, therefore, request that our regulators take a second look at the funding structure within the capital market with the objective of accommodating the CIS in the structure.
“By this, an arrangement could be made that provides CIS with annual grants from the various regulatory bodies and platforms within the market.
“This will no doubt enhance the institute’s ability to discharge its statutory roles optimally,” said Amolegbe.
According to him, the institute had inhabited different rented apartments all over Lagos; from the sub-urban slum of Mushin to the busy commercial hub in Lagos Island for 25 years.
He said the CIS had received grants, donations and contributions from various corporate bodies and individuals and history had been made as a Roll of Honour on some of these distinguished individuals and corporate entities was unveiled.
In his goodwill message, the Director-General, Securities and Exchange Commission (SEC), Dr Lamido Yuguda explained that the institute had played crucial roles in Nigeria and its influence in the market had continued to grow.
Yuguda, who was represented by the Commission’s Director of Monitoring, Mr Isyaku Tilde, noted that CIS had, through its training, produced seasoned professionals who had contributed to the development of the market and improved its standards and practices.
“I am confident that with the acquisition of this new secretariat, the institute will be more efficient and better empowered to effectively and efficiently perform its duties and responsibilities,” he said.
The Group Chief Executive Officer, Nigerian Exchange (NGX) Limited, Mr Oscar Onyema stated that the NGX would continue to support the institute in various forms, given the relevance of stockbrokers to the nation’s economic growth and development.
The Special Guest of Honour and Nigeria’s oldest practicing stockbroker, Otunba Olasubomi Balogun in his remarks said his establishment of the first Nigerian wholly owned stockbroking company, CSL Securities had continued to endeared him to the capital market operations and pledged to remain committed to the ideals of the institute.
A former Director-General of NGX, Prof. Ndi Okereke-Onyuike, who is also a stockbroker urged her colleagues to be proud of the profession, saying that they are the heart of the market and without stockbrokers, securities exchanges cannot thrive.
