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SEC tasks stakeholders on capital market growth, professionalism

Abuja – The Securities and Exchange Commission (SEC), has urged members of the Chartered Institute of Stockbrokers (CIS) to uphold tenets of the profession in order to promote the capital market.

Nigerian Stock Exchange SEC)
Nigerian Stock Exchange NSE

Mrs Mary Uduk, the Acting Director-General, SEC said this during her induction as an Associate Member of the CIS in Lagos on Monday.

Uduk said in a statement that promoting and protecting the interests of the profession through prescribing and upholding the highest standards would contribute to the “capital market of our dreams.”

The News Agency of Nigeria (NAN) reports that CIS is a provider of knowledge, skills and capacity development of professionals in the field of securities and investment.

The Institute is the only professional body in Nigeria empowered to conduct qualifying examinations and provide professional qualifications for stockbrokers to ensure high standards in the country’s stockbroking profession.

She said the strong collaboration between the CIS and the SEC has led to the achievement of tremendous results over the years, especially in deepening the capital market.

“One of such collaborative initiatives led to the development of a stand-alone capital market studies curriculum to be introduced at the Basic and Secondary Schools levels of education in Nigeria.

“The initiative, which is in partnership with other stakeholders is one of the cardinal objectives of the Capital Market Master Plan aimed at inculcating a culture of financial literacy and boosting investment education in Nigeria,” she said.

According to Uduk, the strength of character and service innovation of our professionals is one of the yardsticks with which the Nigerian capital market is benchmarked by the investing community.

“The way and manner capital market professionals conduct businesses with clients will affect how our market is perceived.

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“At the Commission, we recognise that the Institute is a critical stakeholder in the capital market, and therefore, should strive to continue to maintain the highest level of professional standard, ” she said.

She expressed delight at becoming a member of CIS, a highly revered body of securities & investment experts, whose pivotal role was to maintain high standards in the stockbroking profession in Nigeria.

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Also speaking, Mr Dapo Adekoje, President of CIS said the institute took the issue of professional standards and ethical behaviour of its members seriously, as erring members were investigated and disciplined as necessary.

Adekoje said the principal activities of the Institute includes the provision of examinations leading to qualifications as Securities and Investments Professionals.

“The Institute also organises seminars and Continuing Professional Education Courses for members and practitioners to improve standards and professional competence.” (NAN)

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