Lagos, Dec. 7, 2023: Mr Temi Popoola, Chief Executive Officer (CEO) of the Nigerian Exchange Ltd (NGX), on Wednesday, charged the newly inducted Authorised Dealing Clerks of the Exchange to restore glory of the Capital Market.
Popoola said this while delivering an address at the NGX induction ceremony of 58 Authorised dealing clerks in Lagos.
He stated that the capital market is where you find the greater percentage of financial wealthy people and that must be sustained in the Nigerian capital market.
“Gone are the days when the capital market was booming, due to the high rate of transactions on the floor of the exchange.
“For us, one of those things we are doing is to bring those days and opportunities back and make more profit from the market,” he said.
According to him, the brokers must latch on the opportunities presented by President Bola Tinubu-led government to stimulate the growth needed by the country.
The NGX boss expressed excitement that the president, current Governor of Central Bank of Nigeria(CBN), finance minister and several players in the ecosystem understand and back what the capital market does.
Popoola charged the young stock brokers to align with the times and trends by continuously keeping abreast of the happenings within the capital markets.
He added that this would strategically position them for great opportunities that will unfold in the coming years and in this dispensation.
“To remain relevant, we cannot over-emphasise the need to embrace the culture of continuous learning in a fast-paced environment such as the capital market.
“As the market deepens with the launch of new products, I encourage everyone to seek better understanding of various aspects of the capital market as well as new developments.
“X-Academy, our specialised learning platform, is equipped to fill this gap by offering a wide range of courses geared towards bridging the knowledge gap of capital market professionals, investors and the general public on how the capital market works.
“I will implore you to maximise the opportunities presented by X-Academy to stay up to date on market developments.
“Once again, congratulations on achieving this great milestone as Authorised Dealing Clerks of NGX and I wish you a successful future in the Nigerian capital market,” he said.
In her remark, Ms Tinuade Awe, CEO, NGX RegCo, charges the clerks and other players in the capital market to play their roles to support President Tinubu’s declaration to run a one trillion dollar economy.
Awe, represented by Abimbola Babalola, Head, Market Surveillance and Investigation, NGX RegCo, pledged
to support the new brokers to ensure that they do their transactions in line with the rules and regulations of the Exchange.
He stated that NGX RegCo, as a regulator arm of the NGX, would, however, frowns at any form of infractions or irregularities by the brokers.
“The system would not tolerate any clerk that tries to manipulate the market.
“We leverage on the best technology in the world which detect any form of anomalies or attempt to circumvent our system,” she said.
Awe congratulated the inductees and urged them to be professional and transparent enough in their business transactions.
Commenting, an inducted clerk, Mr Nwachukwu Chase of ATLAS Portfolio Ltd, commended the NGX for conducting a professional training to certify them as authorised brokers.
Chase expressed optimism that the new clerks would put the training they received to use and become some of the best hands in the market.
