Adekoje emerges president of Chartered Institute of Stockbrokers
The Chartered Institute of Stockbrokers has elected Adedapo Adekoji as its new president.
In his acceptance speech at the 10th investiture of the Institute in Lagos, Adekoje expressed gratitude to the Stockbrokers for their support during his confidence reposed in him and appealed for their co-operation in order to move the market forward.
In his farewell address, the immediate last President of the Institute, Oluwaseyi Abe thanked the stockbrokers for their support during his administration.
Abe recalled that many achievements were recorded during his tenure, including the newly acquired corporate office at Ikoyi, Stand-Alone-Certification Programme for Stockbrokers and sustained initiatives to attract the youths to Stockbroking profession among others. He attributed these to collective efforts of all stakeholders.
Speaking at the ceremony, the Edo State Governor, Godwin Obaseki urged Stockbrokers to take the values of their profession into the political space in order to move the country forward.
Obaseki explained that every professional stockbroker operates on the premise of ‘my word is my bond’, noting that Nigerian politicians needed to embrace this element of integrity in order to ensure economic growth and development.
Obaseki explained that his background in stockbroking over the years had contributed immensely to the efficiency of his administration.
According to him: “Those of us that have corporate background would find out that we are quite different from others as we have an obligation to deliver and under no circumstances must we fail to keep our promise.”
“The Institute had come a long way saying that the repositioning that some of us undertook over the years are what we are enjoying today.”
Obaseki commended the newly elected CIS’ President on his new position, assured the Institute of support of his administration, and also congratulated the entire stockbroking community on the milestones recorded over the years despite the challenges in the operating environment.
The Country and Regional Senior Partner, West Africa, Price Water House (PwC) Uyi Akpata, who delivered a paper titled ‘Expanding the nexus between capital market growth and economic development’, identified some of the factors militating against competitiveness of the Nigeria’s Capital Market as high transaction cost and dearth of securities.
Akpata proposed product development, financial literacy, and investor education among others as some of the issues that must be addressed in order to enhance competitiveness of the Nigeria’s Capital Market.
Also, the Acting Director General of The Securities and Exchange Commission, Ms Mary Uduk, congratulated the new president and commended the leadership of the Institute and the immediate past president, saying that the Institute has grown tremendously.
However, she charged stockbrokers to do more to take investor education to people at the grass root and rather than concentrate activities on the people in urban areas.
Congratulating Adedapo Adekoje, the Chief Executive Officer of The Nigerian Stock Exchange, Oscar Onyema pledged the Exchange’s support for the Institute.
He said: “We at the Nigerian Stock Exchange are going to be firmly supportive of the administration and the Institute.
“The Chairman of The Association of Stockbroking Houses of Nigeria (ASHON), Chief Patrick Ezeagu, in his farewell massage to the new president stated that ASHON would continue to support the Institute to attain greatness.
“ASHON is very delighted to be a part of the Institute because we are like the other part of the institute, we shall extend the same level of cooperation and support to the new president. It is very important that we must work together to take the Institute to greater heights.”
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