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Capital Market registrars advised to strategise for survival

By on October 20, 2015

Capital market registrars have been enjoined to re-define their business models and re-strategise for survival. The President/Chairman of Council, Institute of Capital Market Registrars (ICMR), Mr. Bayo Olugbemi made the call last week during the annual general meeting (AGM)of  institute in Lagos.

“There is a lot of uncertainty in the air and so registrars should start to think of re-defining their business models with a view of re-strategising for survival,” he said, urging registrars to improve on their information dissemination strategies to the investing public and to regularly engage the regulatory authorities.

According to him,  “The Council will do its best to upgrade the facilities at the institute as a way of strategically positioning it to serve the members better.”

However,  Olugbemi said for ICMR to achieve its goals, it is important for the ICMR Bill to be signed into law.

According to him, the bill, which seeks to give the institute a chartered status, was ready for passage long before the last National Assembly concluded their sitting.

He said: “However, the bill was among the over 60 bills that were hurriedly passed by the National Assembly just before the end of their tenure. That action attracted public outcry and some lawyers even went to court to restrain the President from giving his assent to all the bills passed.”

Olugbemi said up till date, the bills were not signed and have been returned to the National Assembly.

“In anticipation of this outcome, our consultants have represented the bill and we are now surer than ever that the ICMR Bill will be passed into law not later than the second quarter of 2016,” he noted.

Olugbemi said once the bill is signed into law the ICMR will be  able to achieve its vision which is  “To deliberately create,  develop and maintain a professional institute of professional standard” and its mission statement  which is “to train and produce true professional registrars using the best certification procedures with the aim of continuously improving the theory and practice of share registration in Nigeria.”

He said it was also important for the institute to have a well manned research department so as to effectively map out a way of keying into the Nigerian Capital Market 10 Year Master Plan.

He called on corporate members to make it a point of duty to support the institute by sending participants to its training programmes, workshops and to encourage their staff to write the institute’s examinations.

He also tasked the individual members to popularise the profession, among other things.

 

[ThisDay]