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NSE boss urges stockbrokers to promote ethical conduct

By on July 11, 2013

The Chief Executive Officer of the Nigerian Stock Exchange, NSE, Mr. Oscar Onyema, has charged stockbrokers to enthrone integrity and highest standard of ethical practice in their operation.

Onyema, who spoke at the occasion of induction of new members by Chartered Institute of Stockbrokers, CIS, said it was particularly important that dealing members of the NSE enthrone integrity, show impeccable character and professionalism because the investing public judge the market based on their conduct.

“For all recently qualified stockbrokers, it goes without saying that the investing community will know and judge the Nigerian Capital Market through your example in character and service. The manner in which you engage, interface and service your clients will go a long way in shaping the perception of our market. “As you all go into a new stage in your careers, there is one important point you must all remember- you are all ambassadors of this great institution. I hope you will not let us down, but rather become embodiments of committed service,” he said.

“We expect that you will uphold the tenets of peaceful, innovative and harmonious working relationship and we will count on your support to help in achieving the highest level of competitiveness in delivering service excellence and a first rate capital market experience,” he counseled. He used the opportunity of the induction to emphasise the Exchange’s intolerance to sharp practices, while saying that they would continue to deploy requisite technology and expertise to curb and arrest any form of manipulation from all quarters.

Meanwhile, Chartered Institute of Stockbrokers, weekend, de-registered two of its members over unprofessional conducts. The deregistration of the brokers – Peter Temidayo Ola and  Mr. Kingsley Okwudiri Nnaji – followed the judgment of  CIS   Disciplinary Tribunal, which found them guilty of their various offences, while the third member, Mr. Akinwale Olagundoye, was suspended from trading in the Nigerian capital market for six months, a decision he has, however, appealed against.

 

 

 

[Vanguard]