Mr Oluropo Dada has been sworn in as the 13th President and Chairman of Governing Council of Chartered Institute of Stockbrokers (CIS).
The investiture ceremony, which held in Lagos, marked the commencement of Dada’s two-year tenure as the institute’s president and send-off for Mr Oluwole Adeosun, the immediate past president.
In his acceptance speech, Dada assured that his administration will advance inclusive participation of all stakeholders in the financial market.
“My vision is to build a Nigerian capital market and in which securities professionals get the attention and patronage that they deserve. We want a market that is all-inclusive, with all stakeholders working as partners. My team and I will work assiduously towards upgrading capacity building in our community, while at the same time, ensuring that there is a symbiotic relationship between securities dealers and all trading platforms in the country.
“The Federal Government of Nigeria, under the leadership of President Bola Tinubu, has articulated the vision of attaining a $1 trillion economy during its tenure. To do this, the economy must attain a double-digit growth in Gross Domestic Product (GDP). It is therefore my conviction that the capital market alone can generate up to at least half of the envisaged $1 trillion.
“It is therefore imperative that the size of the informal sector in Nigeria be substantially reduced if we are to attain the objectives of accelerated GDP growth. Appropriate policies should be crafted to encourage all public limited liability companies in Nigeria to obtain listing and public quotation on any of the SEC-registered securities exchanges in the country.
“Our institute aligns with the ongoing recapitalisation programme in the banking sector. We have made a 10-point recommendation to the government and capital market regulators on how the new capital injection in the banking industry can be implemented seamlessly,” Dada said.
The immediate past president, Mr Oluwole Adeosun, presented some of the major achievements during his tenure.
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