Don't Miss


Home   >   Nigerian Stock Exchange   >   CIS pledges support for Commodity Exchange

CIS pledges support for Commodity Exchange

By on September 15, 2014

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]