NGX Tasks 103 Newly Inducted Stockbrokers on Market Integrity, Ethical Conduct

By Aduragbemi Omiyale

The Nigerian Exchange (NGX) Limited has charged the 103 newly inducted authorised dealing clerks to uphold market integrity and remain professional in their new line of work.

The new stockbrokers were given the authority to be involved in the buying and selling of securities in the Nigerian capital market after completing the bourse’s 15-day Automated Trading System (ATS) Brokers’ Certification Programme, which provides training on market structure, trading procedures, compliance requirements and the operational framework of Customs Street.

At the induction ceremony, the chief executive of the NGX, Mr Jude Chiemeka, congratulated the new dealing clerks and charged them to uphold the highest standards of integrity, professionalism and ethical conduct as they begin their careers in the market.

“Today, we celebrate the outstanding achievements of the candidates who have successfully completed the Nigerian Exchange’s Automated Trading System Brokers’ Certification Programme,” Mr Chiemeka said.

He said the programme was designed to strengthen the competence, capacity and character of aspiring market professionals, adding that the inductees had fulfilled the academic and professional requirements and obtained the necessary regulatory approvals to practise as Authorised Dealing Clerks.

The NGX chief also stressed the importance of market integrity, noting that the ceremonial robes presented to the inductees symbolised their commitment to the ethical standards of the Chartered Institute of Stockbrokers (CIS) and the NGX Rulebook.

He reiterated NGX’s zero-tolerance stance on market infractions and urged the new dealing clerks to maintain high standards of professional conduct.

Also speaking, the Doyen of the Market, Mr Rasheed Yusuf, said the role of stockbrokers extends beyond the execution of trades to facilitating capital raising, deepening market liquidity, providing investment guidance and broadening retail and diaspora participation.

“The exchange and the capital market constitute a platform to turn around the fortunes of the Nigerian economy, and I encourage you to leverage every channel available to create impact,” Mr Yusuf said, urging them to remain proactive, continuously deepen their knowledge and keep abreast of developments shaping the capital market.

The chairman of the Governing Council of the Association of Securities Dealing Houses of Nigeria (ASHON), Mr Sehinde Adenagbe, and the president and chairman of the Governing Council of the CIS, Mrs Fiona Ahimie, also urged the new dealing clerks to adhere strictly to market rules and professional standards.

They highlighted the responsibility of market practitioners in strengthening investor confidence and contributing to the continued development of Nigeria’s capital market.

The induction expands the pool of qualified market professionals as NGX continues efforts to deepen participation and strengthen the institutional capacity supporting Nigeria’s securities market.