LCFE inducts 23 Commodities Brokers

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LCFE inducts 23 Commodities Brokers

L-R: Chairman, Association of Securities Dealing Houses of Nigeria (ASHON),Sam Onukwue; First Vice President, Chartered Institute of Stockbrokers (CIS), Fiona Ahimie; newly inducted Commodities Broker and Managing Director and Chief Executive Officer, Dynamic Portfolio Limited,   Aderemi Lasaki;  Deputy Director, Securities and Exchange Commission (SEC), John  Briggs and Managing Director and Chief Executive Officer, Lagos Commodities and Futures Exchange (LCFE), Akin Akeredolu-Ale, during the induction of Commodities Brokers in Lagos…on Thursday

News Focus

As part of its capacity building functions, Lagos Commodities and Futures Exchange (LCFE), has onboarded and inducted another 23 Commodities Brokers , the fourth edition in the series, to increase the number of professionals to specialize in various asset classes in the Nigerian commodities ecosystem.

Kernel of the Story

– Many of the newly inducted commodities brokers are Chief Executive Officers of stockbroking companies in Nigeria.

– The inductees are expected to specialize in various asset classes on LCFE.

– The Exchange was established to transform the commodities ecosystem .

What the LCFE Managing Director, Akeredolu-Ale says

In his welcome address , LCFE’s Managing Director and Chief Executive Officer, Mr Akin Akeredolu-Ale, urged the inductees join hands with The Exchange to build a virile commodities market that shall be beneficial to all. ” LCFE is working hard to build a market that will benefit the entire Capital Market and its brokers. Each broker can select a commodity and dedicate their focus on it, thereby enhancing your company’s wealth, your individual skill set and contributing to the growth of the Nigerian Economy. Together, let us seize this opportunity to build a vibrant and dynamic marketplace that unlocks new possibilities for investors, enhances economic prosperity, and positions Nigeria as a leader in commodities trading.

” The Exchange is actively engaging with the Securities and Exchange Commission to obtain approval for more products like Lithium, diamond and Oil and Gas commodities. Just yesterday, we signed an MOU with a Global Certification Agent Bureau Veritas to certify lithium and other Solid Mineral commodities to be traded on LCFE. Additionally, we have made significant strides in the Cashew ecosystem, signing an MOU with the Cashew Association of Nigeria (CAN), aggregators, and a major cashew processor. Eko Gold also represents a pioneering investment opportunity within our commodities ecosystem, leveraging stability and transparency to diversify options, attract capital, and create value across the value chain. LCFE is fully committed to supporting its growth and providing brokers with the tools and guidance needed for effective promotion of the asset classes.”.

Comments of ASHON Chairman, Onukwue

Corroborating him, the Chairman, Securities Dealing Houses of Nigeria (ASHON), Mr Sam Onukwue, noted  LCFE was established for total transformation of commodities exchanges in Nigeria and boost the country’s Gross Domestic Product (GDP).

” The underpinning drive for establishing the exchange was the need to transform and reposition the commodities market and harness opportunities in the commodities ecosystem. This drive will enhance and crate value for all stakeholders in the ecosystem. “, he said.

New President of CIS, Dada advises Inductees

The newly elected President of Chartered Institute of Stockbrokers  ( CIS), Mr Oluropo Dada, congratulated the inductees and advised them to uphold the ethical standard of the profession and operate with skills and integrity.

Additional Information 

Akeredolu-Ale also congratulated the new board and management of Securities and Exchange Commission (SEC), under the new Director General , Dr Emomotimi Agada.

On the list of those inducted last week were the Managing Director, Dynamic Portfolio Limited, Mr Remi Lasaki and many Chief Executive Officers of stockbroking companies in Nigeria.

In July last year, the Pan African Exchange, inducted 33 commodities brokers , including the first female office holder at Chartered Institute of Stockbrokers (CIS), Mrs Fiona Ahimie.

 

 

 

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