• Friday, March 29, 2024
businessday logo

BusinessDay

CIS attracts university dons to capital market

capital-markets

In a strategic move to strengthen its membership quality, the council of Chartered Institute of Stockbrokers (CIS) has commenced implementation of its Executive Conversion Programme (ECP) aimed at bringing top class university lecturers and chief executive officers in the financial markets to the league of stockbrokers in Nigeria.

The ECP, which aims at alignment of theory with practice on one hand and consummation of deep financial market knowledge with principles and practice in the securities market on the other, is a temporary special window approved by the CIS’ Governing Council, to bring into the capital market ecosystem, an array of talents in the academia and industry.

Addressing the first batch of beneficiaries at the maiden brainstorming session in Lagos recently, a past president of the Institute, Mike Itegboje who congratulated them on the rare opportunities charged the participants to uphold the core values of the Institute, including member-focus, professionalism, service quality, integrity, accountability, resourcefulness, transparency and respect.

Itegboje who made a comprehensive presentation on “Overview of the Financial Market and Institutions”, spoke extensively on the concept of financial market, its functions and instruments, distinguishing features, money market operations and a host of other activities in the financial markets.

Justifying the rationale for the ECP, the Institute’s second Vice President, Oluwole Adeosun said, “The council of the Institute has approved a special window to bring participants and stakeholders who are part of the Institute but have not gone through the whole realm of former examination on board.

These are people who have been with us.

“Some of them are professors, who set and moderate our examination questions. Some of them even lecture our students. We decided that before they come on board, we needed to let them have the benefits of having some practicality. It is a different thing to lecture and teach theory. Likewise, it is a different thing to come and be able to talk practice, because theory must be put into practice.

“We have decided to bring them into alignment of theory with practice in securities and Investment business. By this strategy, they can be well armed and better equipped to be able to teach their students, and as they are teaching their students, they can interplay theory along with the practice of securities and investment business and guide prospective investors as to be able to invest their hard earn resources”, Adeosun said.

Corroborating him, Taiwo Asaolu, a Professor in Obafemi Awolowo University and also a member of the Institute’s Council explained that some of them in the ivory towers had always advocated for teaching of Capital Market Studies in higher institutions of learning to catch the students young.

“We have always advocated even before now, that Capital Market Studies ought to be taught at tertiary institutions and not necessarily that when students graduate from University and Polytechnic before instituting moves to catch them and bring them on board.

“It is necessary to enable students of higher institutions take a course in Capital Market to improve their knowledge of the stock market and Investment. This will no doubt enhance their knowledge of capital market principles and workings of the stock market even as undergraduates,” Asaolu said.

Professor Rufus Olowe of University of Lagos noted that many university lecturers would not hesitate to trade on securities exchanges in order to deepen their knowledge of the market and extend this to their students.

“We want to become qualified chartered member of the Institute and proceed to do the training at the stock exchange to enable us qualify to trade in the market. When we are able to trade in the market, it will also improve on our teaching of our students, so that whatever you are teaching is going to be more practical and focused. It will enable our students to acquire practical skills. We shall take our training forward by trading on securities exchanges. This is a combination of theory and practice”, said Olowe.

Adeosun made a comprehensive presentation on “Primary and Secondary Markets and their Operations while a famous Chartered Accountant and facilitator in the financial markets, Ade Omolehinwa addressed the participants on Securities Analysis and Valuations in the Capital Market. The maiden edition of brainstorming session was a two-day event that covers the basic operations in the capital market. It was very interactive.

 

Iheanyi Nwachukwu