Stockbrokers’ Institute launches Book and Documentary to conclude 30th Anniversary

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Stockbrokers’ Institute launches Book and Documentary to conclude 30th Anniversary

 L – R  Oluropo Dada, ; 1st Vice President, Chartered Institute of Stockbrokers (CIS); Jude Chiemeka, Ag. Chief Executive Officer, Nigerian Exchange Limited (NGX); Fiona Ahimie,,  2nd Vice President, CIS; Josiah Akerewusi, Registrar/Chief Executive, CIS; Elizabeth Ebi, Member, Board of Fellows, CIS; Umaru Kwairanga, Group Chairman, NGX Group; Oluwole Adeosun, , President and Chairman of Governing Council, CIS; Babarinde  Ademola, Member, Governing Council, CIS  and Kurfi Garba, Member, G during the launch and documentary of the history of the Nigerian Capital Market at the Exchange at the weekend  in

News Focus

With pomp and pageantry, Chartered Institute of Stockbrokers (CIS),  has launched its book : ” History of the NIGERIAN CAPITAL MARKET” and a Documentary on the market. 

 The event, which effectively concluded the Institute’s 30th Anniversary celebration, attracted market regulators, members of the Institute’s Governing Council, seasoned operators in the financial market and topnotch academics. 

 Kernel of the Story

– The Institute’s President, Mr Oluwole Adeosun explained that the book was produced to address issues of paucity of comprehensive historical materials and conflicting narratives about the Nigerian capital market at different levels in the public space. 

– The book is not meant for only the professionals in the capital market and those in finance and business related field, including students,  but non-stockbrokers and investo.

 – It is meant for  basic understanding of the history of the capital market in Nigeria and some of the commonly used market terminologies.

– The event was concluded with the closing song ceremony  on the Trading Floor of NGX

What Adeosun says

“The book has been written to serve two purposes. First, as already been mentioned to provide an authentic account of the evolution of the capital market, from its humble beginnings to the massive wealth creator platform that it is today. The second, and very important purpose is to serve as an academic text for students of Economics, Finance and very specially, the emerging programme of Securities and Investment / Capital Market Studies that is now gaining ground in the country. The book provides insight into the Central Bank of Nigeria’s immense role in nurturing the market, along with the impact of the 1972 indigenization exercise that birthed a vibrant equities market and the transformations within the Nigeria Exchange Group(NGX), which in 63 years, has taken on three different names and the emergence of multiple exchanges.

What Dr Kwairanga says

 -The  Chief Launcher and Chairman, NGX Group PLC, Dr Umaru Kwairanga, lauded CIS for the initiative and stated that beyond the book publication, both NGX and CIS would continue to partner for the overall development of the market. 

” The Nigerian capital market was still largely untapped and investors should take advantage of enormous investment opportunities in the securities market. I can assure that NGX Group would increase its advocacy for listing major multinational companies and key government enterprises in the stock market.”

What the Reviewer, Professor Akuston says

The Director of Entrepreneurship Research and Development Centre, Kaduna State University, Professor Seth  Akuston said “it captured the evolution of the market, its governance structure and transition from the call-over to Automatic Trading System (ATS) among others .”

 Olutola Mobolurin’s Comment

A past President of CIS, Mr. Olutola Moboluring, stated that ” the stockmarket should be more vibrant. According to him, that there is a  need to de-leverage the debt market and explore the opportunities in the equities market through capital mobilization.”

 

 

 

 

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