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Uduk named fellow as 15 professors, 215 others become stockbrokers

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The Chartered Institute of Stockbrokers (CIS) at the weekend, named the acting Director General, Securities and Exchange Commission (SEC) Mary Uduk and CIS’ Registrar and Chief Executive Adedeji Ajayi, Fellows while 230 newly qualified stockbrokers, the single largest in the Institute’s history were inducted as Associate Members.

Besides, the Managing Director, Central Securities Clearing System Plc, Jalo Waziri; General Manager, the  Nigerian Stock Exchange, Bola Adeeko, 15 university Professors, other lecturers and some  top civil servants made the list of latest Securities Dealers in Nigeria at the colourful investiture and induction ceremony which marked the end of the Institute’s 23rd Annual Conference in Lagos.

Addressing the newly qualified stockbrokers at the Investiture and Induction ceremony which marked the end of the Institute’s 23rd Annual Conference at the weekend in Lagos, the President, Dapo Adekoje who congratulated both new the Fellows and Associates urged them to uphold the tenets of integrity and professionalism in order to be good ambassadors of the Institute.

Adekoje explained that membership of some university dons would upscale the Institute’s research base as many of them had done several researches on the capital market. According to him, the development would enhance teaching of Capital Market Studies in the tertiary institution as envisioned by the Institute’s Governing Council.

“For our friends joining us for the first time, the Chartered Institute of Stockbrokers was established by law, specifically Act 105 of 1992 (Laws of the Federal Republic of Nigeria) and given clear mandates to determine the standard of knowledge required to practice as a core professional in the Securities and Investment industry in Nigeria, provide the required training, and duly certify those candidates that are deemed qualified to practice. In effect, no person can carry out core professional functions in the industry without obtaining appropriate certification from CIS.

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“In recent years, and in recognition of the changing dynamics of the financial industry worldwide, the institute has made the qualification process much easier, even though every single one of our examinations remain very high and world class in standard. Unlike in the past when we had one omnibus Professional Examination programme to cover every aspect of the securities profession, the institute now has several differentiated professional areas available for candidates who choose to specialize in any.

“So, our young entrants today can choose to focus on Fixed Income Dealing, Commodity Trading, Custodianship, Equity Dealing, or Financial Advisory Services. They also have the option of combining everything as omnibus Stockbrokers.

“Distinguished ladies and gentlemen, this great institute, the CIS, is recognized by our counterparts worldwide. Our working agreements with the Chartered Institute for Securities & Investment, United Kingdom (CISI UK) and the Association of Certified International Investment Analysts (ACIIA) ensure that our members can practise in 35 countries in the world”, he said.

The new Associate members pledged to promote the good image of the Institute in their private lives and professional practice.

Among the newly qualified stockbrokers were Taiwo Asaolu, a Professor at Obafemi Awolowo University, Rufus Somoye, a Professor at Olabisi Onabanjo University, Tahir Kabir, a Professor at Bayero University Kano, Ikenna Egungwu, a Professor at Odeumegwu Ojukwu University and Rufus Olowe, a Professor at University of Lagos.

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