The Nigerian Exchange Limited has challenged its newly inducted brokers to continue upholding the high ethical standard in the capital market, while embracing a culture of continuous learning to keep up with the fast pace of developments and innovation in the financial space.
Speaking during the induction ceremony for 91 Authorised Dealing Clerks at the Exchange on Thursday, 15 December 2022, the Chief Executive Officer, NGX, Temi Popoola advised them to be advocates of integrity and impeccable character, placing the market first while making decisions.
The NGX, he reminded them, has enforceable rules, including the recent signing of a Memorandum of Understanding with the Economic and Financial Crimes Commission (EFCC) in its bid to implement a zero-tolerance policy for infractions.
Emphasising NGX’s technological drive, Popoola said, “technology is increasingly going to drive our business operations and activities going forward. Over the years, The Exchange has demonstrated its readiness for the digital transformation as evinced by our seamless transition to virtual trading following the incursion of the COVID-19 pandemic.
“Our trading platform and real-time data service remains a game changer in the capital market. Through these platforms, we have improved market order flow, sustained increase in the number of trades, provided high availability and enabled direct market access and remote trading.”
He urged the inductees to embrace a culture of continuous learning and take advantage of NGX’s specialised learning platform, X-Academy to gain more knowledge and maximise opportunities to stay up to date on market developments.
The Doyen of the market, Alhaji Rasheed Yusuf, congratulated the ADC’s, highlighting that their induction was coming at a time of significant volatility and uncertainty in global markets and the world’s economy.
“I will urge you all to be innovative, creative and ethical as the market is in need of your skills to increase its contribution to the economy. The Exchange and the capital market constitute a platform to turnaround the fortunes of the Nigerian economy and I encourage you to leverage every channel available to create impact,” he said.
Sam Onukwue, the Chairman of the Governing Council of Association of Securities Dealing Houses of Nigeria (ASHON), and Oluwole Adeosun, President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS), both further underscored the importance of keeping to the rules and regulations of the market to the new brokers and strive to make contributions to the development of the market.