SEC DG, others receive CIS fellowship

The Director-General, Securities and Exchange Commission, Dr Emomotimi Agama, and former lawmaker, Felix Bajomo, were among the 80 stockbrokers invested as Fellows of the Chartered Institute of Stockbrokers.

The investiture took place at its 28th Annual Stockbrokers’ Conference, which was held in Ibadan, Oyo State Capital.

CIS also inducted 210 Associates at the Conference, which was hosted under the theme,  ‘Capital Market as Catalyst for the $1.0tn Economy.’

In his welcome address, the 13th President and Chairman of Council of the Institute, Oluropo Dada explained that the Nigerian Capital Market had the potential to enhance the Federal Government’s plan to have a $1.0tn economy.

“The theme was deliberately crafted to serve as the Institute’s contribution towards achieving one of the Federal Government of Nigeria’s cardinal objectives, which is growing the GDP of Nigeria to $1trn as quickly as possible. It is our conviction, after carefully studying the paths taken by the developed countries of the world, that achieving a trillion-dollar Nigerian economy necessarily requires a comprehensive exploration.

“The decision of the Institute to hold the 2024 edition in Oyo State was borne out of the following carefully thought-out reasons. Oyo State has a unique legacy in the history of Nigeria and remains to date, one of the most important commercial centres in the country.  Oyo State is home to several industries, ranging from agro-allied, tobacco processing, textile, to leatherworks and furniture making, among others,” explained Dada.

In his comments, the SEC DG advocated for collaboration amongst all stakeholders and the deployment of fintech as a strategy to achieve a $ 1.0tn economy.

He said, “The success of the $1.0tn economy vision largely depends on the collective efforts of all stakeholders in the financial ecosystem. By fostering collaboration between regulators, market operators, and policymakers, we can create a more resilient and inclusive market. The role of technological innovations in the market cannot be overstated.

“Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency. The critical review of sectors, investment strategies, market regulations, and technological innovations that the conference promises will undoubtedly provide a roadmap for the capital market’scontribution to Nigeria’s economic transformation.”

In attendance at the conference was the Special Adviser to the President on Economic Affairs, Dr Tope Fasua, Chairmanof the House Committee on Capital Market, Solomon Bob and Representative of the Chairman, Senate Committee on Capital Market, Senator Anthony Yaro, who all delivered goodwill messages.

Other dignitaries were the Chairman, Association of Securities Dealing Houses of Nigeria, Sam Onukwue and the Chief Executive Officer of NASD PLC, Eguarekhide Longe, who pledged their members’ support for CIS.

A unique aspect of the conference was the Career Talk given to some secondary school students as a strategy to expose them to making a career in the securities market. There was also a factory visit by stockbrokers to some companies including FTN Cocoa Processing PLC and Nigerian Breweries Plc at Ibadan to get first-hand knowledge of their operations.