Brokers laud leadership of CIS, seek closer ties

Brokers laud leadership of CIS, seek closer ties
Albert Okumagba

A CROSS section of stockbrokers has passed a vote of confidence on the new administration of the Chartered Institute of Stockbrokers (CIS) describing it as a catalyst of change.

They also urged investors to leverage on the expertise of stockbrokers to make investment decision that would minimize their risk and maximize return.

The President of the institute, Albert Okumagba, leads the new leadership. He is supported by the first Vice President,  Oluwaseyi Abe, the second Vice President Dapo Adekoje and the Registrar/Chief Executive,  Adedeji Ajadi.

Responding to media enquiries on the preliminary assessment of the current leadership of the institute, the Managing Director, Express Discount Asset Management Limited, Alhaji Atiku Kafaru described the current leadership as round pegs in round holes.

According to him, the institute has recorded laudable achievements within the short period that the new administration came on board. “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. The current leadership has a target of about one million members for 2015 through the Diploma Programme and this is achievable.

“As a prelude, the new leadership has signed Memorandum of Understanding (MOU) with some tested institutions in order to realize the target for increase in membership base. A lot of sensitization programme is going – on in this regard.” Atiku said.

Corroborating Atiku, Tunde Oyekunle of Sinawell Capital Limited attributed the impressive performance of the new leadership to factors such as vibrancy, innovativeness, market experience and the strong determination to move the market to the next level. “This is not only being communicated through effective communication strategy but quite visible”, Oyekunle said

In his own opinion, the Chief Executive Officer, Standard Union Securities Limited, Mr. Sehinde Adenagbe explained that the current leadership leverages on wide contacts to boost the operation of the institute. “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.

The Chief Executive Officer, Halicorn Consulting Limited,  Segun Oye noted that marketing the institute has been difficult  due to the on – going economic crisis and its attendant effects on all sectors of the economy. But Oye stressed that the current leadership had refused to surrender to this plight rather, they are making frantic efforts to move the institute to the next level. “Efforts such as negotiating dues, discounting trainings and sustained dialogues are part of the efforts being made to encourage members.

Oyekunle described the recent Stockbrokers’ Conference as one of the best ever in the history of the institute in both the form and content. He however urged the leadership to get closer to the members to understand their plights and give them value. According to Atiku, the institute should endeavour to partner with the government functionaries to drive revenue that would enhance business opportunities for members. Atiku also described the recent Stockbrokers’ Conference as excellent as right people were invited.

Adenagbe advised investors not to panic but rather move closer to stockbrokers for advice on investment opportunities in the capital market, which is a source of medium and long-term investment. He also urged the institute to be more involved in the welfare of the members, particularly the unemployed ones in order to enlist their interest in the institute’s activities.

Speaking on investor confidence in the market, Oyekunle said that investors should come to the market to take their position. He enjoined them to imbibe the consciousness of being rich in order to trade wisely while Oye urged them to take a long time view of investment as the Nigeria’s economy would bounce back in the next ten years.

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