A foremost Nigerian legal icon, Chief Chris Ogunbanjo, was honoured with the highest status of the Chartered Institute of Stockbrokers (CIS) with the conferment of Honourary Fellowship on him by the Institute as part of the activities of the ongoing second phase of the Institute’s 30th Anniversary celebration.
He was decorated with the symbols of the high office at the Investiture ceremony held in Ikoyi, Lagos.
Ogunbanjo’s investiture, held three days after that of the former Military Head of State, General Ibrahim Babangida (rtd) was in recognition of his outstanding contributions to the development of the capital market in Nigeria. It coincided with the month of his 99th birthday anniversary.
Addressing the participants at the investiture ceremony, the CIS’ President, Mr. Oluwole Adeosun, explained that Ogunbanjo’s law firm earned the singular honour of handling the incorporation of The Nigerian Stock Exchange (now NGX) and was for many years the Solicitors to Public issues in the Nigerian capital market.
“Chief Christopher Ogunbanjo is a foremost Nigerian Corporate Lawyer and Industrialist. He is reputed as being the icon of corporate finance law services in Nigeria. His firm handled the incorporation of The Nigerian Stock Exchange (now NGX) and served as the Solicitor to several Public Issues in the first and second rounds of the indigenization exercise in Nigeria.
“He served as the Chairman of the 120-member Consultative Committee on Company Law — a body set up by the Federal Government in 1989 to advise it on a new Companies Decree which was promulgated into law in January 1990 as CAMA 1990.
“He has established a reputation not only for nurturing many successful industrial ventures in Nigeria but also for promoting education, research and the achievement of a stable society. To this end, he established The Chris Ogunbanjo Foundation whose principal aims and objects include promotion of an industrial society and private enterprise,” said Adeosun.
Responding, Chief Ogunbanjo, commended the Institute for the great honour and pledged to continue to uphold its core values.
“The Institute has made giant strides since the early 1990s, as evidenced by the handling of the Banking sector recapitalisation exercise you mentioned, to the Equity market transformation which we are all living witnesses today.
“Your springboard for continuous improvement are contained in your Core Values which I reiterate, are, your values thus captured; Professionialism, Quality of service, Integrity of Members, accountability, respect, resourcefulness and your Member focus.
“These are all core values which were imbued in our generation and even though unwritten, resonate deeply within us.
“I commend your Vision and your Mission for the future of the Institute and I thank you most warmly for your decision to honour me as an Honorary Fellow of the Chartered Institute of Stockbrokers,” said Ogunbanjo.
Chief Ogunbanjo’s son and the immediate past Chairman of NGX PLC, Otunba Abimbola Ogunbanjo, expressed gratitude to the Institute for recognising his father’s age-long contributions to the market development since the advent of the capital market in 1960s. He urged the Institute to extend its training to non-stockbrokers to minimise risk as every investor can now execute trading in this era of digitization. He also noted that the emergence of new asset classes such as cryptocurrency and derivatives had made training of stockbrokers themselves more compelling in order to operate professionally.
The ceremony was witnessed by the members of the Institute’s Board of Fellows, and members of the Governing Council amongst others. Present also at the Investiture ceremony were Chief Ogunbanjo’s son, Senator Tokunbo Ogunbanjo and daughter, Mrs Olabisi Towry – Coker.