By Omodele Adigun
The President of the Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Abe, has anchored the rapid development of the nation’s capital market on Rebranding, Education, Collaboration and Partnership (RECP).
According to Abe, who stated this while addressing fellow brokers on the trading floor of the Nigerian Stock Exchange (NSE) recently, stockbrokers are being prepared to rebrand in order to take their rightful position in the financial market.
He lamented that though the market might be gloomy at the present, he was hopeful that it would soon bounce back. He said that other exchanges such as National Association of Securities Dealers (NASD), Financial Markets Dealers Quotations (FMDQ) Plc and Abuja Commodities Exchange had created alternative platforms for stockbrokers to practise, adding that the new trend in the financial market required additional skills on the part of market operators, particularly the brokers.
He disclosed that the Institute had designed RECP as four-point agenda to fast track the development of the market. Abe pledged the continued collaboration of the Institute with the Exchange in order to build a strong and virile capital market.
He also appealed to the stockbrokers to work closely with CIS for enhanced professional development in view of the expanding nature of their operations, adding that the Institute’s Continued Professional Development (CPD) has been expanded to bridge the skill gaps and position stockbrokers for any emerging opportunities.
Speaking on education, he explained that Investor Education had become more compelling as new products are being introduced to the market and the more investors understand the benefits and risks of investment in the capital market.
Abe stated that the Institute had placed premium on the need to intensify efforts aimed at creating more awareness of the relevance of the market to all categories of existing and potential investors who beat the closing gong yesterday.
He assured the Exchange of the Institute’s continued collaboration to globalise the market.
He noted that the capital market regulators and operators had always worked on the same goal of market development. According to him, collaborative efforts have become more compelling in view of the challenges of globalization.
He explained that the CIS would always be prepared to partner with individuals and institutions that share common values on the growth and development of the capital market.
Abe assured the Stockbrokers that the current economic challenges would soon be over, urging them to partner with the Institute for enhanced professional development. “Recently, the Institute came up with the innovative ideas aimed at enhancing the profile and bottom line of the organisation for the greater benefit of the market and members. In all these, let us envision togetherness in unity of purpose. I see a greater future of the market, Stockbrokers and the Institute”, Abe said.