By Amarachi Obiora
The Chartered Institute of Stockbrokers, CIS has called on its its members to initiate plans to develop multiple exchanges as a way of developing the capital market and the economy in general.
The President of CIS, Mr. Albert Okumagba, gave the advice during the programe tagged “Brunch with President” organised by the institute in Lagos at the weekend.
According to the President, “When the institute visited the Minister of Agriculture in Abuja, he said that we should begin to plan on establishing multiple exchanges that will help boost the economy.
So, we are expecting to see multiple exchanges in the nearest future and that will mean enhancing our income and boosting the market and economy in general. Already, we have been discussing with the Minister of Agriculture on how to develop the commodity exchange.
By the time we get multiple trading platforms, we would begin to see high volume and value in our business.” Okumagba stated that “Brunch with President “has started bearing fruits as we have been engaging various agencies of government and other organizations .
This is the second in the series and is aimed at improving the capital market and the society at large.”
The President thanked all members of CIS and encouraged members to participate in commodity exchange and other trading platforms.
“We should think of how we can bring telecoms, power, and agro allied based companies into the capital market and also how we can connect different stock exchange platform and other trading platforms in order to make us as professional institute.
At the end of all these, we can see that it will improve the income capacity of the average stock brokers and also move the institute away from what we can call dispair to prosperity whether the market goes up or down” he noted.