L-R: Daughter of Alhaji Aliko Mohammed,Maryan Mohammed ; President, Chartered Institute of Stockbrokers (CIS), Oluwole Adeosun; Dr Goodie Ibru; his wife, Emuobo and past President ,CIS, Henry Olayemi at conferment of Honourary Fellowship on Aliko and Ibru as part of the 30th Anniversary of CIS in Lagos yesterday
A past President of The Nigerian Stock Exchange (now NGX), Dr Goodie Ibru has advocated the need for investment in the equity market, saying the average return in Nigeria and Africa is 30 percent and 35 percent respectively per annum. But Ibru, who was conferred with honourary Fellowship of Chartered Institute of Stockbrokers (CIS) yesterday with another past President of The Exchange, Alhaji Aliko Mohammed, in recognition of their sterling contributions to the growth and development of the Nigerian economy.
In his acceptance speech, Ibru, also urged the Institute to be in the vanguard of getting the government to review the land tenure laws in Nigeria to encourage investment in real estate.
The Kernel of the Story
– In continuation of its ongoing 30th Anniversary Celebration, The Chartered Institute of Stockbrokers (CIS), yesterday, conferred Honourary Fellowship on two past Presidents of The Nigerian Stock Exchange (now NGX), Alhaji Aliko Mohammed and Dr Goodie Ibru at Oriental Hotel, Lagos.
– Alhaji Aliko Mohammed was represented by her daughter Maryam Aliko Mohammed at the colourful ceremony.
– 50 Associate Stockbrokers were conferred with Fellowship.
– The President of CIS, Mr Oluwole Adeosun said the Institute had played vital role in manpower development in the last 30 years.
– According to him, CIS has globalized its certification processes and now seeking government’s approval of CISI Bill to bring all professionals in the securities business together without prejudice to their individual independence.
– Dr Goodie Ibru explained that investment in equity was the best as it generates average returns of 30% and 35% in Nigeria and Africa.
– Ibru advised stockbrokers to seek government’s review of land tenure laws to encourage investment in real estate and create new products that will attract investors into the sector.
– According to him, there is 20 million units of housing deficit in Nigeria and this presents a huge investment opportunities for stockbrokers.
– Many stockbrokers were presented awards for exemplary service to the Institute.
– The President, Association of Investment Advisers and Portfolio Managers (IAPM), Prince Oladele Olashore , who was the Guest Speaker explored the contributions of Stockbrokers to the Nigerian Financial Market over the years in his paper titled: “The Nigerian Capital Market: Past, Present and Future”
– The 30th Anniversary started with Thanksgiving service at Syrian Mosque, Ikoyi and RCCG Christ Church in Gbagada.
– The Institute’s President, Mr Oluwole Adeosun, led his Principal Officers, 1st Mr Oluropo Dada, 2nd Vice President , Mrs Fiona Ahimie, Registrar and Chief Executive , Mr Josiah Akerewusi and Management Staff of the Institute to close trading on NGX PLC, AFEX Commodities Exchange, NASD OTC Securities Exchange and Lagos Commodities and Futures Exchange (LCFE).
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