Jibril Aku, vice chairman, FMDQ Group Plc has joined the prestigious league of securities professionals, popularly called Stockbrokers in Nigeria, with his induction as an Associate Member of Chartered Institute of Stockbrokers (CIS).
Addressing the participants at the Induction Ceremony at the Institute’s Chamber in Lagos at the weekend, the President and Chairman of Council, Oluropo Dada, described Aku’s induction as symbolic. According to him, it helps to elevate professional inclusion and promote unity among the operators in the capital market community in Nigeria. He reiterated the importance of integrity in the securities and investment industry, aligning it with the principle of “My word is my bond” and advised Aku to uphold this standard in his new role.
He encouraged Aku to join some committees within the institute to leverage his extensive experience to advance the securities and investment profession in Nigeria. Dada applauded Aku for his excellent disposition to studies as a trainee stockbroker, saying despite his exalted position and accomplishments in the society, he passed the Institute’s professional examination.
Responding, Aku, expressed gratitude to the Institute. He stated that he had the option of receiving the honorary CIS membership but decided to take the examination route to ensure that he is an active participant in the task of bringing the money and capital market together for more liquidity in the capital Market, describing this as the last stage that needs to be achieved to increase liquidity in the capital market – a market with potential to be several times bigger than the banks in terms of volume and value of transactions.
“The curriculum of CIS is more weighted towards bonds and fixed incomes trading rather than equity but dealers are sitting on the equity side and ignoring the other side. The older ones might not want to convert but we have the younger ones and we should not let them go the way of the older ones. We have to find a way to create that bridge,” he declared.
In attendance at the ceremony were the Institute’s 1st Vice President, Fiona Ahimie, 2nd Vice President, Akeem Oyewale and the Registrar and Chief Executive, Josiah Akerewusi