By Chinenye Anuforo
Poised to increase shareholders’ base and restore confidence in the Nigeria’s Capital Market (NCM), the Chartered Institute of Stockbroker (CIS) is reinforcing its collaborative efforts with the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange.
Besides, the Institute has continued to engage the National Assembly in order to secure approval of the bill enacted to transform its Chartered Status for global competitiveness.
Addressing the stockbrokers during the Institute’s recent Annual General Meeting (AGM) in Lagos, the President and Chairman of the council, Mr Oluwaseyi Abe, lamented the negative impacts of the tough operating environment on the capital market operations.
Abe who expressed optimism that the future would remained bright explained that the immediate challenge was to restore the market to buoyancy. “The challenge before us is to join hands with other market regulators to restore the market to buoyancy, while continuing to raise the profile of the Institute he said. Abe noted that in pursuit of Investor Education programmes and Career Talks designed to bring young ones into the capital market community, the Institute visited several higher Institutions and for the first time, a secondary school King’s college, Lagos in the review period. According to him, the Career Talks and Investor Education are consistent with the enlightenment programmes of SEC and The Nigerian Stock Exchange.
Speaking on the collaborative efforts with SEC, Abe stated that “CIS was actively involved in the development of the curriculum for the introduction of Capital Market Studies in primary and secondary schools in the country by the securities and Exchange Commission (SEC), in collaboration with the Nigerian Educational, Research and Development Council”.
Commenting on the proposed Bill to globalise the Institute, Abe said, “The Council, during the year under review, approved the creation of Stand-Alone Certifications for candidates who wish to specialize and focus on their core career area. This is in conformity with global best practice and our proposed Chartered Institute of Securities and Investment (CISI) Bill which we will continue to lobby the National Assembly to pass into Act.”