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Akintola Williams hails NSE’s quest for fraud free market

By Businessnews Staff on September 8, 2014

Foremost accountant and one of the founding members of the Nigerian Stock Exchange (NSE), Mr. Akintola Williams, has applauded the management of the Exchange for sustaining the level of integrity displayed by the founding members of the local bourse.
Williams, who was at the NSE to wring the closing gong as part of activities to mark his 95th birthday, stated that he was confident that the NSE would sustain the tempo.

According to him, “I am happy to report that during this period of thirteen years and subsequently thereafter frauds and manipulations of prices were unknown and I note with considerable pleasure that this high degree of integrity is still going on. I plead that it should still be maintained and not relaxed.”
Much debate, he noted, has been going on the need for stockbrokers to become professional, stressing that this will supplement the very high standard of professional ethics on which it already insists.
He congratulated the NSE, for establishing in the country, eleven exchanges equipped with trading floors, libraries and enlightened staff. “I also notice that your call-over is now being superseded by the introduction of computer-based system – here again I rejoice with the Exchange on this achievement.”
“The Exchange also needs to be congratulated on the substantial increase in the number of its dealing members. The number now exceeds 200. Mr. President, I take note that this event is in continuation of my 95th Birthday Anniversary which I celebrated on Saturday, August 9, 2014.

“Let me express to you and your Council how pleased I was to have received the Council’s kind invitation. It is my prayers that all of us present here this afternoon will reach and go beyond that age of 95 and in good and sound health. Best wishes to the Exchange for its continued prosperity and success, “he said.
Williams said he is proud of being one of the seven founding fathers of the Lagos Stock Exchange late in 1960, subsequently renamed Nigerian Stock Exchange.

aHe added: “I was a Council member for thirteen years and was pleased to have worked under five Presidents of Council, two of whom were expatriates whilst the rest were Nigerians. I am lost for words, having in the last 20 minutes made a response to the welcome address by the president of the Exchange.

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