Lagos, Nigeria – The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, OON, has admonished the newly inducted dealing clerks of the Nigerian Stock Echange to constantly uphold the tenets of the profession, without which it would be impossible to achieve the lofty aims of the Exchange.
Mr. Onyema gave this admonition while inducting the newly qualified dealing clerks at the Nigerian Stock Exchange yesterday.
Below are his brief remarks at the ceremony.
On behalf of the Council and Management of The Nigerian Stock Exchange (NSE), it gives me great pleasure to welcome you all to another induction ceremony of the recently qualified Dealing Clerks of the Exchange. This ceremony is very important to us as an organization, as it is the official welcome ceremony for the future leaders of the Nigerian capital market.
Seated here today are successful Dealing Clerks who have passed through The Exchange’s Automated Trading System (ATS) training faculty, made up of seasoned capital market regulators and operators (SEC, NSE, CSCS, Registrars, ASHON and CIS). The ATS training is a pre-requisite for participating in an oral examination, a rigorous exercise to ensure only suitable candidates secure the required regulatory approval to practice as Authorized Dealing Clerks of The Nigerian Stock Exchange.
Let me congratulate those of you here today for your induction into the Dealing Clerkship of the Exchange. Of the 53 candidates who had already passed the Chartered Institute of Stockbrokers (CIS) examination and have gone through the mandatory practical Automated Trading System (ATS) training at the NSE, 46 candidates passed the oral examination at the Exchange. I believe they deserve a resounding round of applause.
Today’s ceremony is not just a celebration. It marks a call to stand tall in integrity, to be impeccable in character, to be professional in service and to uphold the high ethics and values for which the Exchange and the capital market are renowned. That is the big hurdle that you must cross effortlessly in your daily practice of this profession
Please note that we have clear and enforceable rules, with a zero tolerance policy on all infractions. To accentuate this, we signed an MOU with Economic and Financial Crimes Commission (EFCC) a couple years ago to increase cooperation and communication in the fight against financial crimes in the capital market. We will support you in developing your capacity and businesses. However, NSE will not hesitate to wield the axe on any erring member that falls short on any of its rules.
As a sustainable Exchange, the NSE continues to highlight the importance of sustainable business practices in delivering value and supporting economic growth.
While we are pleased to report that we have held ourselves accountable to the highest standards, we are also intensifying our advocacy efforts to support the integration of the Environmental, Social and Governance (ESG) imperatives in the Nigerian capital market. The Exchange will continue to do its part in ensuring that it provides a competitive platform for you to participate in the financial market.
In order to stay relevant in today’s dynamic environment, continuous training is a tool that should not be underestimated. For this reason, we established X-Academy, the NSE knowledge-platform designed to provide education services to individuals for better understanding of various aspects of the capital market as well as new development. I urge you to take advantage of this platform, especially the recently launched e-learning platform, to stay up to date of market developments.
The importance of your role cannot be over emphasized. It goes without saying that the investing community will know and judge the Nigerian capital market through your character and service innovation. The manner in which you engage and render your professional duties to your clients will go a long way in shaping the perception of our market.
To this end, I would like to challenge you to uphold the tenets of your profession. Let your word be your bond. This would not only build and sustain a transparent and harmonious working relationship, but would also engender confidence and growth of your respective organizations and the capital market at large.