Some capital market operators have said that investors need to work more closely with stockbrokers in order to minimize their risks and increase the returns on their investment.
The operators said this while reviewing the activities of the Chartered Institute of Stockbrokers and its goal of promoting market development.
The Chief Executive Officer, Standard Union Securities Limited, Mr. Sehinde Adenagbe, was quoted in a statement by the CIS as advising investors not to panic as a result of the downturn in the market. Rather, he advised them to develop closer ties with stockbrokers and seek professional advice on investment opportunities in the capital market.
Adenagbe, who praised the Albert Okumagba-led management of the institute, advised it to ensure that members of the institute were employed and allowed to play active roles in the market. According to him, that will enable the institute to achieve its goal of promoting professionalism in the market.
“The current leadership draws more members to the fold. Members that are not very active on the institute’s activities are now brought on board as every member is seeing the institute on a close range. It is dear that the current leadership is building a world-class institute,” he said.
Another operator, Mr. Tunde Oyekunle of Sinawell Capital Limited explained that the current market trend offered investors the opportunity to buy shares at low prices. He, therefore, urged them to come to the market to take positions.
On his part, the Chief Executive Officer, Halicorn Consulting Limited, Mr. Segun Oye, advised investors to view the situation in the market from a long-time perspective as the country’s economy would bounce back in the future.
Reviewing the activities of the CIS, he observed that although it had been limited by the economic challenges in the country, the leadership had rather than get discouraged, intensified efforts to develop it and give it more visibility.
The Managing Director, Express Discount Asset Management Limited, Alhaji Atiku Kafaru, was quoted as saying, “The current leadership of the institute has raised the bar in the area of visibility. Members are more interested in the institute’s activities. Membership has increased.”
Kafaru also said the institute’s target of getting a million members through the diploma programme was achievable.
“As a prelude, the new leadership has signed Memorandum of Understanding with some tested institutions in order to realise the target for increase in membership base. A lot of sensitization is going on in this regard,” Atiku said.