CIS pledges support for Commodity Exchange
The Chartered Institute of Stockbrokers (CIS) last week offered to train and certify commodity brokers who will be trading on the Nigeria Commodity Exchange(NCX), formerly known as Abuja Securities and Commodity Exchange Plc.
According to the CIS, which is the professional body for stockbrokers in Nigeria, the training certification will create a symbiotic relationship that will boost the growth and development of the Nigerian capital market.
This collaboration was disclosed by a past President of CIS, Mr. Mike Itegboje, who led officials of the institute on a visit to NCX in Abuja. The CIS officials included its first vice president, Mr. Oluwaseyi Abe.
Itegboje said the visit would enable CIS to provide a mutually beneficial relationship with NCX through training and certification of commodity brokers, securities and investment professionals.
He added that the visit would also enable CIS to support the NCX in the areas of manpower for the certification, development of requisite syllabus and structured examination programmes of international standard and continuous training of commodity brokers and NCX staff in line with the global best practices.
Itegboje highlighted the institute’s affiliation with the Association of Certified International Investment Analysts (ACIIA), New York Institute of Finance (NYIF) as part of the efforts to ensure global best practices for the professionals in the securities and investment sectors of the Nigerian capital market.
In his response, Group Head, Operations, NCX, Mr. Benson Lawal, said the commodity exchange would be willing to partner the institute on the training of the CIS professional diploma in securities and Investment.
Lawal urged the CIS to evolve a strategy of adopting the already trained 300 commodity brokers into the collaboration.
He welcomed the idea that NCX staff members should be writing CIS professional diploma examination in securities and investment, noting that there was no way professionalism could be measured without excellence.
Lawal therefore, urged the CIS to set up a committee to work out the modalities for the implementation of the collaboration.
[This Day]