Ibrahim Babangida Becomes Fellow of Chartered Institute Of Stockbrokers

Former Nigerian president, Gen. Ibrahim Badamasi Babangida (Rtd.) GCFR was recently made Honourary Fellow of the Chartered Institute Of Stockbrokers (CIS) as part of the 30th anniversary of the institute.

The investiture, which took place at Babangida’s Hilltop residence in Minna, Niger State, was conducted by members of the Governing Council of the institute.

The CIS was registered as a body in Nigeria in 1990 and in1992 the institute was given the exclusive right to determine the standard for anyone to attain to practise in the security and investment sector in Nigeria.

30 years after, the institute went to invest Babangida as a fellow.

It was under Babangida’s leadership as the president of Nigeria that the decree that established the institute was promulgated. The Governing Council said that the investiture was a well deserved honour.

While appreciating the institute for the honour, the former president commended its leadership for upholding integrity in the conduct of its affairs.

The former Nigerian leader affirmed that successful countries were built by strong institutions, which he said was his inspiration to grant the institute a charter in 1992.

“It has always been my belief that a country like Nigeria needed strong institutions to develop and I am glad that the CIS happens to be one of such and in 30 years it is still growing,” he said.

President and Chairman of Council of CIS, Oluwole Adeosun, who led the delegation said that the capital market, as at the time of it’s establishment in 1990, was an emerging concept in the Nigerian financial space, which he said was dominated by the money market banking system and that the meaning and role of capital market was largely unknown to many Nigerians and policy makers, but that now with over 3,000 members, the prospects to grow the Nigerian capital market is higher.

“I wish to affirm that the CIS is poised to go higher. It was just few weeks ago that the Federal House of Representatives held a public hearing for a Chartered Institute of Security and Investment of Nigeria Bill, an initiative of the Chartered Institute of Stockbrokers working with several relevant trade groups in the capital market,” he said.

The investiture was attended by Aigboje Aig-Imoukhuede CON, Past President of the Nigerian Stock Exchange, Oluwole Adeosun, FCS, President and Chairman of Council of CIS.

Others are Henry Olayemi, FCS, Past President, CIS; Adedapo Adekoje, FCS, Past President, CIS and Michael Itegboje, FCS, Past President, CIS.