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ICMR posts N56.6 million total assets in 2014

By Helen Oji
15 October 2015   |   11:18 pm
The Institute of Capital Market Registrars (ICMR) has recorded total assets of N56.56 million in its 2014 operations, against N52.59 achieved in the corresponding period in 2013.
Bayo Olugbemi

Bayo Olugbemi

…Urges govt to fast-track passage of institute’s bill
The Institute of Capital Market Registrars (ICMR) has recorded total assets of N56.56 million in its 2014 operations, against N52.59 achieved in the corresponding period in 2013.

The institute’s total income also rose by 126.25 per cent to N52.953m from N29.548m posted in the previous year.

The President/Chairman of Council of the institute, Bayo Olugbemi while speaking at the 2014 yearly general meeting of the institute in Lagos on Tuesday, also renewed the call on the national assembly to pass the bill, which seeks to give the institute a chartered status into law in order to strengthen its performance.

He noted that the bill was ready for passage long before the last National Assembly concluded their sitting, adding that it was among the over 60 bills that were hurriedly passed by the National Assembly just before the end of the tenure.

“That action attracted public outcry and some lawyers even went to court to restrain the President from giving his assent to all the bills passed.”

Olugbemi said up till date, the bills were not signed and have been returned to the National Assembly. In anticipation of this outcome, our consultants have represented the bill and we are now surer than ever that the ICMR Bill will be passed into law not later than the second quarter of 2016,” he added.

He explained that once the bill is signed into law, the ICMR would be repositioned for maximum performance to create, develop and maintain a professional institute of professional standard.

Olugemi said it was also important for the institute to have a well-manned research department so as to effectively align with the Nigerian capital market 10 –year master plan.

He called on corporate members to support the institute by sending participants to its training programmes, workshops and to encourage their staff to write the institute’s examinations.
“There is a lot of uncertainties in the air and so registrars should start to think of re-defining their business models with a view of re-strategising for survival.”

He urged registrars to improve on their information dissemination strategies to the investing public and to regularly engage the regulatory authorities.

He assured that the Council would upgrade the facilities at the institute as a way of strategically positioning it to serve the members better.

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