Stockbrokers’ Institute inducts 215 members

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L-R: Registrar and Chief Executive, Chartered Institute of Stockbrokers (CIS), Josiah Akerewusi, 1st Vice President, Oluropo Dada, President, Oluwole Adeosun and 2nd Vice President, Fiona Ahimie, during 26th Stockbrokers’ Annual Conference in Benin City at weekend

The Chartered Institute of Stockbrokers (CIS), has inducted 215 newly qualified stockbrokers as associate members and urged them to operate with highest standard of professionalism.

The induction at the weekend in Benin City was part of the major events that characterized the Institute’s 26th Stockbrokers’ Conference.

Addressing the new stockbrokers, the Institute’s President, Mr Oluwole Adeosun, who congratulated the inductees, advised them to abide by the profession’s Code of Conduct.

“You have joined a very distinguished and privileged class of financial professionals, respected all over the world. Stories abound of how Stockbrokers are given privileged attention at airports, conventions, luxury hotels, and above all, in matters of important appointments in various countries of the world.

“If you conduct yourself within the Code of Ethics, as transmitted to you during your training, it is assured that you will be a success in life. You will secure well paying jobs and build a happy and worthy family. However, remember that to achieve all these, you have to conduct yourselves in accordance with the Code of Ethics of the Institute,” said Adeosun.

During the Conference, the Executive Governor of Edo State, Godwin Obaseki, advocated massive investment in Agriculture, especially oil palm as a strategic move to boost foreign exchange earnings for Nigeria.

Obaseki explained that stockbrokers played critical roles in the flow of investments into various sectors of the economy saying the Nigerian economic growth was hinged on a vibrant private sector, propped by a thriving capital market.

Obaseki, who was represented by the Edo State Government’s Head of Service, Mr Anthony Okungbowa said:

“We are fortunate to have in our state, the biggest publicly traded commercial agricultural companies, notably Okomu Oil Palm PLC and Presco PLC , both of which operate massive oil palm. Plantation in the State. These companies have grown exponentially, returning high dividend to investors in the last few years,” said Obaseki.

In his welcome address, the President, Chartered Institute of Stockbrokers (CIS) Mr Oluwole Adeosun, lauded the Edo State Government for hosting stockbrokers and urged other State Governments to support the nobel course. Adeosun underscored the essence of the 2022 Stockbrokers’ Conference:

“2022 Annual Conference beams it’s searchlight on agriculture, exploring the nexus between the sector and the capital market as drivers of employment and economic growth, and proffering effective strategies to restore Nigeria to the path of double-digit growth in Gross Domestic Product (GDP) through agricultural development,” Adeosun said.

The topics addressed included Commodities Exchanges and Agricultural Development in Nigeria, the cost of food importation with the adverse effects on forex earnings, harnessing Technology to drive innovation and growth in the Capital Market, Financial Inclusion and Capital Market Literacy in Nigeria and Market Regulation in the Digital Age among others.

The Stockbrokers visited two major quoted agricultural companies that are based in Edo State: Okomu Oil Palm Company Plc and Presco Plc as part of the Conference.