The Chartered Institute of Stockbrokers (CIS) has taken its capital market enlightenment programme to military schools
The Chartered Institute of Stockbrokers (CIS) has extended its on-going membership drive to military schools in order to attract staff and students into the capital market community. Besides, the Institute has become a beehive of visit by students across the country as a way of having firsthand knowledge of the workings of the institute and general overview of an array of opportunities in the Capital Market.
Addressing the staff and students of Army School of Finance recently, in Apapa, Lagos, the institute’s head, Research and Technical, Mr Arinze Nwobu enjoined them to take advantage of diverse opportunities in the Capital Market. Nwobu noted that the institute is the only professional body responsible for training and regulating practice and conduct of stockbroking in Nigeria.
He explained that the Institute also conducts examination for prospective professional students who are interested in practising in the securities and investment industry. According to him the Capital market is a segment of the financial system which deals with medium to long term funds. The funds are channelled from the surplus end to deficit end for productive purpose, project expansion and development.
He stated further that the capital market is very critical to the development of the nation and that research has shown that any country or nation which does not maximize the instrumentality of the capital market will not develop optimally. Most developed nations has effectively managed the economy through the use of the mechanism of the capital market, especially the bond market. Nwobu acknowledged that the Nigerian capital market has come a long way even though it is still emerging.
He expressed optimism that all stakeholders would continue to work hard to see that we really emerge so that the capital market will be contributing more meaningfully to the development of the economy. He informed the audience that Securities and Investment profession is an esoteric and prestigious profession with sophisticated underlying concepts and principles that sometimes can be difficult but not meant to terrify anybody. He said that operating in the capital market is lucrative because opportunities are increasing daily especially with globalization which has eliminated the geographical barriers with a growing equity culture.
He further stated that there are two categories of professional examinations in which one can explore the securities and investment industry namely : CIS Professional Examination and the CIS Professional Diploma in Securities and Investment. The CIS Professional Diploma in Securities and Investment gives the pedestal to move to the main professional examination. “CIS and other stakeholders have been trying to propagate the ideals of capital market and impress it on the government to begin to maximally explore the instrumentality of the capital market so that Nigeria will attain great economic heights and inclusive growth. “Though Stockbroking is a specialised discipline, anyone with intellectual depth and analytical skills can also do well in the profession.
“A qualified stockbroker can choose to be self employed just as it is obtainable the young and upward mobile in developed countries.”, he said. He noted that members of the CIS are managers and top management officials in securities and investment industry which encompasses Issuing Houses, Pension Fund Administrator, Investment Banking, Insurance, Regulatory Agencies and Finance Houses.
“After the stock market downturn in 2008 occasioned global financial meltdown CIS has been on the forefront of investor education to sensitize the investing public and also relate with the government on the way to move the Nigeria economy further.”, Nwobu said. Responding, the Deputy Commandant Col, Adio A. Adekoya of Nigeria Army School of Finance, Arankan Barracks, Apapa Lagos, commended the institute for its enlightenment programme and advised the accounting students to broaden their knowledge more on securities and investment in order to realize their ambition of becoming an expert in finance.
Adekoya appreciated the CIS for finding the school worthy of collaboration and hoped that the collaboration would give more opportunities to both current and graduated students to broaden their knowledge of the capital market. The Deputy Commandant was accompanied by LT. Col. II Adamu, the Registrar and Lt. Col. EK Jona, the school’s head of Accounting.