• Caption: From left, Patrick Ajayi, Director, Nigerian Exchange Group; Temi Popoola, Chief Executive Officer, Nigerian Exchange Limited (NGX); Dr. Umaru Kwairanga, Chairman, Nigerian Exchange Group Plc; Oluwole Adeosun, President, Chartered Institute of Stockbrokers (CIS); Abubakar Mahmoud, Chairman, NGX; Haruna Jalo-Waziri, Chief Executive Officer, Central Securities and Clearing System Plc (CSCS)e ; and Tinuade Awe, Chief Executive Officer, NGX Regulation Limited during the Closing Gong Ceremony commemorating the 30th anniversary of the CIS and re-opening of the NGX trading floor on Monday, November 7, 2022 in Lagos.

The Nigerian Exchange Limited (NGX), on Monday, November 7, 2022, hosted the Chartered Institute of Stockbrokers (CIS) to a Closing Gong ceremony in commemoration of the Institute’s 30th anniversary, alongside the reopening of the trading floor of the market, after 32 months.

Investdata recalls that the NGX floor in Lagos was shut down following the outbreak of the Corona Virus pandemic in March 2020, with trading activities becoming fully electronic from the comfort of their homes or offices.

Speaking at the occasion, Chairman, NGX Exchange, Abubakar Mahmoud, congratulated the institute for its contribution to upholding integrity and ethics in the Nigerian capital market, while promoting and protecting the interests of the stockbroking community over the years.

He also appreciated stockbrokers for their cooperation with the NGX, attributing the successful record of trading with zero downtime to a combination of the exchange’s investment in technology, and the collective agility and collaboration between the Exchange and the stockbroking community.

According to Mahmoud, “30 years of excellence is no small feat and at the Exchange, we recognise the significance of CIS to the capital market as it engenders commitment to the highest standards of service and professionalism. Its advocacy initiatives and support for the stockbroking and investment practice in Nigeria is notable and worthy of celebration.

“Moving forward as the Exchange, we plan to leverage our shared history and cordial relationship with CIS to further drive growth and value creation in the capital market. NGX wishes the Institute many more years of excellence as it continues to markedly enhance the Nigerian capital market and the broader economy.”

Also speaking at the event, chairman, NGX Group Plc, Alhaji Umar Kwairanga, noted that it was to the credit of NGX, NGX Regulation, Central Securities Clearing System (CSCS), NGX Group and the stockbroking community, that trading flowed seamlessly during the period when the floor was shut down.

Continuing, he said: “I also know how physical interactions matter to us brokers and will continue to make sure that we see the impact of us coming back to the trading floor.

“We are also marking this alongside the ceremony commemorating our 30th anniversary and I hope that this is just the beginning of greater collaboration between brokers, NGX Group as a whole and the capital market,” he added.

In his contribution, Chief Executive Officer, NGX Limited, Temi Popoola assured that the company “will continue to support the initiatives of the institute and cooperate for the further advancement of the capital market.”

On his part, President and Chairman of the Governing Council of CIS, Oluwole Adeosun underscored the longstanding relationship between institute and the Exchange, assuring that members would continue to cooperate with the component parts of the new NGX Group structure.

“A lot has been achieved from the initial foundation built by NGX for CIS. For 32 months, we have been trading seamlessly remotely due to the investments NGX made. We the operators express gratitude to the Exchange and believe we are definitely poised to achieve more together onward.”