CISI announces deal with Chartered Institute of Stockbrokers of Nigeria

By Lora Benson | Jan 25, 2016

The Chartered Institute of Stockbrokers of Nigeria (CIS) has confirmed a partnership deal with the Chartered Institute for Securities & Investment (CISI).

The two Institutes plan to cooperate focussing on the areas of integrity and continuing professional development (CPD).   The 2,000 strong CIS membership will be given the opportunity to join the CISI and benefit from its global CPD programme. This includes CISI TV, where members can view recent CPD seminars, access to the online edition of the Review and access to Professional Refresher, the CISI’s online training solution. 

Through members can keep up-to-date with industry developments, maintain regulatory compliance and demonstrate continuing learning. 

The CISI also intends to establish a National Advisory Council (NAC) which will be responsible for shaping the local CPD programme for Nigerian members.

Nigeria’s economy has now surpassed South Africa’s as the largest on the continent, therefore raising its profile on the world stage.  The Lord Mayor of the City of London visited Nigeria at the end of 2015 and the growth of the capital markets as well as education, training and qualifications were key points on his agenda for collaboration between the UK and Nigeria.

The UKTI advice on doing business in Nigeria points to significant economic growth, the fact that 62% of Nigeria’s population is under 25, a fast growing middle class that forms 23% of the population and an appetite for education.

Kevin Moore, CISI Global Business Development Director said: “We are delighted to be working with the CIS, who run the qualifying exams for the Nigerian Stock Exchange, and have a growing membership. There is a keen desire in Nigeria to raise professional standards in financial services through partnership and give practitioners global learning opportunities.  The CISI is keen to partner on this through our membership offering and integrity and ethics programme.”

Mr Oluwaseyi Abe, CIS Acting President said: “This is a welcome development which will be mutually beneficial to both our Institutes.  We are also very grateful for the support of Mr Oscar Onyema, CEO of the Nigerian Stock Exchange, who has given his full support to this MoU as a potent method to create a symbiotic relationship between CIS and CISI in order to develop the much needed global manpower for the Nigeria capital market.”

Mr Moore was in  Lagos  presenting the CISI’s Integrity At Work interactive session to 200 ACCA members, where participants supplied their live responses to financial services case studies via electronic voting devices. The case studies are real-life integrity dilemmas as provided by CISI’s practitioner members and the workshop has been delivered by CISI in 15 global locations to date in English, Spanish and French.

The CISI is also working with the Chartered Institute of Bankers Nigeria (CIBN) to promote its international membership offering,

CISI is involved in projects in 11 African countries including Nigeria, Egypt, Cote d’Ivoire, South Africa, Zambia, Ruanda, Uganda, Tanzania, Kenya, Casablanca and Tunisia.