NGX Inducts 103 New Dealing Clerks to Tighten Market Integrity
By Aboki Forex —
Nigerian Exchange Limited has inducted 103 newly qualified Authorised Dealing Clerks, expanding the pool of licensed professionals trading on the country's securities market. The inductees completed NGX's 15-day Automated Trading System (ATS) Brokers' Certification Programme.
The programme trains candidates on market structure, trading procedures, compliance requirements and the operational framework of the Exchange.
Chiemeka Warns on Ethical Conduct
Jude Chiemeka, chief executive officer of NGX, congratulated the new dealing clerks and charged them to uphold the highest standards of integrity, professionalism and ethical conduct as they start their careers in the market.
"Today, we celebrate the outstanding achievements of the candidates who have successfully completed the Nigerian Exchange's Automated Trading System Brokers' Certification Programme," Chiemeka said.
He said the programme was designed to strengthen the competence, capacity and character of aspiring market professionals. The inductees, he added, had fulfilled the academic and professional requirements and obtained the necessary regulatory approvals to practise as Authorised Dealing Clerks.
Chiemeka also stressed the importance of market integrity. The ceremonial robes presented to the inductees, he said, symbolised their commitment to the ethical standards of the Chartered Institute of Stockbrokers and the NGX Rulebook. He reiterated NGX's zero-tolerance stance on market infractions and urged the new clerks to maintain high standards of professional conduct.
Brokers Tasked on Capital Raising, Liquidity
Rasheed Yusuf, Doyen of the Market, said the role of stockbrokers extends beyond the execution of trades. He listed capital raising, deepening market liquidity, providing investment guidance and broadening retail and diaspora participation as part of the job.
"The Exchange and the capital market constitute a platform to turn around the fortunes of the Nigerian economy, and I encourage you to leverage every channel available to create impact," Yusuf said.
He urged the inductees to remain proactive, continuously deepen their knowledge and keep abreast of developments shaping the capital market.
Sehinde Adenagbe, chairman of the Governing Council of the Association of Securities Dealing Houses of Nigeria (ASHON), and Fiona Ahimie, president and chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS), also urged the new dealing clerks to adhere strictly to market rules and professional standards.
Both highlighted the responsibility of market practitioners in strengthening investor confidence and contributing to the continued development of Nigeria's capital market.
What It Means for the Market
The induction expands the number of qualified professionals authorised to trade on the Exchange, as NGX pushes to deepen participation and strengthen the institutional capacity supporting the securities market.
More certified dealers could support trading volumes and liquidity on the floor, a factor that matters for pricing and for how easily investors can enter and exit positions. It also broadens the pool of advisers available to companies seeking to raise capital through the market.