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LCFE, CIS partner to build capacity for commodities trading

By Peter Egwuatu

AS part of its preparation to commence commodities trading in the country following the approval of its licence by the Securities and Exchange Commission (SEC), Lagos Commodities and Futures Exchange (LCFE) and Chartered Institute of Stockbrokers (CIS), have begun to expose stockbrokers and other securities dealers to the fundamentals of commodities trading.

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Commercial activities were in full swing in Ogige Market, Nsukka Local Government Area of Enugu State as traders defied the sit-at-home order by IPOB. PHOTO: Ikechukwu Odu

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The two-day intensive training, perhaps, first in the series, was tagged “Understanding Commodities Market and Trading” for stockbrokers and other stakeholders in the securities market.

Declaring the workshop open in Lagos, the Managing Director and Chief Executive Officer of LCFE, Mr. Akin Akeredolu-Ale underscored the substance and essence of strategic capacity building in certification of personnel, trading practices, standardization and products development as essential ingredients for the smooth take-off of the new Exchange.

Akeredolu-Ale who expressed optimism that the training would be sustainable noted that the partnership between LCFE and CIS was informed by the statutory position of the Institute as the only body recongnised by law in Nigeria to train and certify dealers for commodities trading.

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