CISI, IAPM renew partnership deal
The Chartered Institute for Securities and Investment (CISI) and the Nigerian Association of Investment Advisers and Portfolio Managers (IAPM) have renewed their Memorandum of Understanding (MoU) targeted at advancing professional standards in the Nigerian capital market.
The MoU was initially sealed in 2019, when both parties agreed to improve the skills and competencies of professionals in the market through trainings and certifications.
By the collaboration, IAPM’s Members will have opportunities to get global certification in Wealth and Investment Management; International Certificate in Advanced Wealth Management; and Chartered Wealth Manager among others,
Under the partnership agreement, IAPM’s candidates will receive 12 months Student Membership of CISI, which includes access to the full range of CISI benefits such as over 500 videos on the CISI TV channel, over 180 Professional Refresher modules to update sector knowledge and the opportunity to attend Continuing Professional Development ( CPD )events.
President and Chairman of IAPM Council, Prince Abimbola Olashore had earlier said, “It is a perfect partnership of two institutions from different geographical locations and market experiences, with similar missions and focus to promote common interest in providing quality professional knowledge and qualifications of international standard to Nigeria financial market operators.”
He also added that IAPM would collaborate with CISI in the areas of capacity building so that its members can obtain international certification in array of courses offered by CISI.
Commenting on the development, the Director, Global Business Development,
CISI, Kevin Moore said the renewed MoU was an opportunity for the members of AIPM and Nigerian students in general to have access to a wide range of qualifications and enjoined them to take advantage of the opportunity.
The IAPM was formed in 1981 and has been at the forefront of efforts to instill discipline and professionalism in Nigerian investment management and financial advice.
The colorurful ceremony was witnessed by the Country Representative (Nigeria), CISI, Dr John Osuoha , Vice President, IAPM, Akinwale Adewumi and Executive Secretary, Akinduro Philips.
The CISI is the professional body of choice for financial services practitioners with securities and investment industry and has a range of globally recognised qualifications which support indiviudals through membership from the students level to the pinnacle of their career. CISI is a not-for-profit organisation and works to ensure that products and services are up to date, relevant and meet the needs of the ever-changing financial services industry .
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Sell-offs in Airtel Africa, MTNN, others draw stock market to N621bn
By Philemon Adedeji
Opening the week yesterday, stock market closed on bearish sentiments amid selloffs in Index heavyweights, AIRTEL AFRICA (-8.31%), MTNN (-1.27%) and SEPLAT Energy (-4.17%) and 19 others draw stock market lower to N621 billion
Absolutely, the Nigerian Exchange Limited (NGX), All-Share Index (ASI) closed by 1,141.76 basis points or 2.08 per cent to close at 53,750.77 Index points from 54,892.53 Index points it closed trade on Friday.
Consequently, the ASI’s year-to-date (YTD) return fell to 4.88 per cent, while the market capitalization value shed N621.99 billion to close at N29.28 trillion
The breakdown of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 12.11 per cent
The trade volume declined to 100,882,822 million share worth N4.342 billion were exchanged in 3,279 deals.
Guaranty Trust Holding Company (GTCO) led the volume chart with 12.84 million units traded, while MTNN led the value chart in deals worth N1.93 billion.
The market sentiments as measured by market breadth closed negative as Courtville Business Solution led 5 gainers on the leaders chart, while NCR led 21 losers on the laggards.
On the Positive side, Courtville Business Solution came as the highest price gainer which appreciated by 6.67 per cent to close at N0.48 per share, NPF Microfinance bank which followed went up by 2.70 per cent to close at N1.90 per share, While AIICO Insurance which recorded as the last third gainer rose up significantly by 1.75 per cent to close at N0.58 per share
First Bank Holding of Nigeria which recorded as the last fourth gainer grew by 0.92 per cent to close at N11. 00 per share, While Zenith Bank which recorded as the last fifth gainer appreciated by 0.20 per cent to close at N25. 00 per share
On the Negative side, NCR led as the highest price loser which shed 9.79 per cent to close at N2.12 per share, followed by Unity bank which depreciated by 9.43 per cent to close at N0.48 per share, While Prestige Assurance which recorded as the last third loser declined by 8.89 per cent to close at N0.41 per share.
Sunu Assurance which recorded as the last fourth loser suffered 8.33 per cent loss to close at N0.44 per share, While Multiverse and Mining Evaporation which recorded as the last fifth loser went down by 8.31 per cent to close at N2.98 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 12.835 million share worth 318.512 millions, Zenith Bank which followed exchanged 11.919 million share valued at 297.981 million, While United Bank of Africa transacted 10.038 million share worth 80.241 million.
MTNN accounted 8.264 million share worth 1.926 billion, while First Bank Holdings of Nigeria traded 7.718 million share worth 84.576 million
