Mr Oluropo Dada was sworn in as the 13th President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers.
The investiture event, held over the weekend in Lagos, marked the start of Dada’s two-year stint as President of the Institute, as well as the departure of Mr Oluwole Adeosun, the Institute’s immediate past president, according to Vanguard.
Dada pledged in his acceptance speech that promote the inclusion of all stakeholders in the financial market.
He said “My vision is to build a Nigerian capital market in which securities professionals get the attention and patronage that they deserve. We want an all-inclusive market, 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 Ahmed Tinubu, has articulated the vision of attaining a $1trillion 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 quotations 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.”
Meanwhile, the immediate past president, Mr Oluwole Adeosun highlighted some of his key accomplishments during his tenure and praised Dada for his outstanding services as 1st Vice President during that time.
The Special Guest of Honour, Nigeria’s Vice President Kashim Shettima, asked the Institute to collaborate with the Federal Government to change the economy. Shettima was represented by his Special Adviser on Economic Matters, Dr. Tope Fasua.
He indicated that the economy would increase significantly after the government completed the present reforms.
Governor Abiodun Oyebanji of Ekiti State praised the Institute and promised to support Dada’s administration through a relationship with the Institute for market growth. He praised Dada as a man of integrity with a proven track record of performance.
After Dada was inaugurated as President, in line with the Institute tradition, he swore in Mrs Fiona Ahimie and Dr Akeem Oyewale as the first and second Vice Presidents, respectively.
Goodwill messages were presented to the new president by the Lagos State Governor, Director General, Securities and Exchange Commission (SEC), Nigerian Exchange Group Plc, Chartered Institute of Bankers of Nigeria (CIBN), Association of Securities Dealing Houses of Nigeria (ASHON) and Founding Partner, Wole Olanipekun & Co, Chief Wole Olanipekun amongst others, while a Keynote Address was delivered by the Chairman, Chapel Hill Denham, Mr Bolaji Balogun.
Many industry leaders and experienced finance professionals attended the occasion, including former Director General of The Nigerian Stock Exchange (now NGX), Professor Ndi Okereke-Onyuike.
