Sunday, August 19, 2018 15.45PM / NSE Press Release
The Chief Executive Officer of The Nigerian Stock Exchange, Mr. Oscar N. Onyema, OON, has been inducted as a Fellow of the Chartered Institute of Stockbrokers (CIS) of Nigeria. The conferment of the CIS Fellowship took place on Friday, August 17, 2018, at the investiture ceremony held at Landmark Event Centre in Victoria Island, Lagos.
The investiture is subsequent to his induction as an Associate Member of CIS in 2017, after he voluntarily enrolled as a member of CIS, sat and passed the institution’s examination. Making him the first CEO of the Exchange to be inducted as an Associate Member.
CIS is the body statutorily empowered to train and certify professionals in the Nigerian capital market. It is the only professional body in Nigeria authorized to carry out qualifying examinations into the stockbroking profession. The Institute controls the activities of its members and matters associated with it.
Speaking during the conferment of the Fellowship on Mr. Onyema, the President/Chairman of Council (CIS), Mr. Dapo Adekoje FCIS, said: “Oscar’s meteoric rise to the highest level of our profession is the outcome of his transformative thought leadership that has not only impacted The Nigerian Stock Exchange, but the entire capital market ecosystem. As a person, he is a distinguished gentleman whose humility continues to endear him to many. It was these same exemplary attributes that made him subject himself to the rigors of the CIS Professional Examination, which he passed very well. I share in the joy of inducting you into the Fellowship grade, which is the highest and most prestigious level of membership of the Chartered Institute of Stockbrokers, reserved for accomplished professionals like you distinguished self”
In his acceptance speech, Mr. Onyema expressed his gratitude to CIS and reiterated his determination to project the best image of the institute by ensuring adherence to the code of ethics of the profession. “I am indeed delighted to become a Fellow of this great Institute that is highly regarded for the critical role it plays in creating, maintaining and extending high standards in the stockbroking profession in Nigeria. Although I have stock brokering license in the US and Associate membership of CISI in the UK, I cherish this one because it’s from my native land. I therefore pledge to continue to work with the Institute towards sustainable development of the capital market and the Nigerian economy in general”.
Mr Onyema’s exemplary leadership service at the premier bourse and contributions to the capital market in Nigeria and Africa continue to receive local and international recognition. In 2017, he was elevated to a Fellow of the Institute of Directors, Nigeria and received the Special Recognition Award For Transformational Leadership in the Nigerian Capital Markets at Business Day Top 25 CEOs Awards 2018. He joined the bourse in 2011 after about two decades of work experience at leading stock exchanges in the United States. He served as the Senior Vice President and Chief Administrative Officer at American Stock Exchange (Amex), which he joined in 2001. He was the first person of colour to hold that position, and was instrumental in integrating the Amex equity business into the New York Stock Exchange (NYSE) Euronext equity business after the latter’s acquisition of Amex in 2008. He then managed the NYSE Amex equity trading business, which he helped position as a premier market for small and mid-cap securities.
the President of CIS, Mr. Oluwaseyi Abe with the Chief Executive Officer (CEO) of The Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema, OON, was on December 19, 2017, inducted as an associate member of the Chartered Institute of Stockbrokers (CIS) of Nigeria at the induction ceremony held at the Stock Exchange House, Lagos. With this, Mr. Onyema became the first CEO of the Exchange to be inducted as an associate member after passing the requisite examination of the institute.
Acceptance Speech by Oscar N. Onyema, CEO of the Nigerian Stock Exchange (NSE) on the occasion of his investiture as a fellow of the Chartered Institute of Stockbrokers (CIS) and 5oth Birthday Dinner at The Landmark Event centre, Lagos on Friday, August 17, 2018
Mr. Adedapo Adekoje, FCS,
President and Chairman of Council of the Chartered Institute of Stockbrokers,
Ladies and Gentlemen,
Thank you for your gracious presence and kind remarks. It is humbling to share this evening with so many inspirational leaders, respected colleagues, dear friends and beloved family members. I appreciate you all for taking time out to be here.
The CIS: A Long-Standing Development Partner
This Fellowship recognition holds much meaning to me as it comes from an institution that plays a pivotal role in building a sustainable capital market for us all. For close to three decades, the CIS has been a strong proponent of capacity-building by providing learning and development opportunities for millions of aspiring and established financial services professionals.
The collaborative efforts of the CIS and the NSE to maintain market integrity (while positioning our members to achieve greater growth and competitiveness), have made us longstanding partners in the quest to build a stronger and safer capital market. In 2016, the NSE introduced minimum operating standards for capital market operators, which focused on implementing quality standards for our intermediaries in the areas of technology, processes, manpower and equipment; organization structure and governance; and global competitiveness. Although the initiative was initially regarded as corporate “backbreaking” in some quarters, the quantum leap in the operational and governance standards of dealing member firms catalyzed by the exercise, has bolstered investor confidence and become a point of pride for many of our dealing members. But it would not have been possible without the CIS’s firm support and parallel efforts to raise the standards for individual professionals in our market.
It is therefore with appreciation and humility that I accept this Fellowship and thank the CIS for this recognition and for their support and partnership over the years.
Call to Service
This remarkable honor comes on the eve of my fiftieth birthday. There is something about birthdays, particularly “milestone birthdays” that invites a measure of introspection. For me, turning fifty seems to provide just as many reasons to reflect on my journey so far, and the path that led me here today.
At the start of this decade, in 2011 to be precise, I made the choice to return home to Nigeria and join the NSE after over 16 years of working with leading exchanges abroad. It was by no means an easy decision to make. As my first few weeks here passed, the unease that comes with uncertainty lingered. But in the months that followed, it became extraordinarily clear to me that I had followed my purpose.
For me, and I suspect for many of us here, the true meaning of life lies in creating a better future for those who come after us. I am proud to be able to sincerely say that it is this “greater good” that we work towards at the NSE. From supporting SMEs to raise capital and adopt the governance standards required for business expansion, to enabling everyday Nigerians to create durable wealth - the NSE is a facilitator of inclusive economic growth, and is striving to become a more significant driver of socio-economic growth in Nigeria.
I am grateful for the opportunity to carry out such important work. I am also acutely aware that while much has been achieved, there is still much more to be accomplished. I suspect there are some amongst us that still feel a measure of trepidation about investing in the market, despite the various developments and investor protection mechanisms that have been put in place over the years. At the same time, our engagements show that a number of Nigerian businesses that are eligible to list on The Exchange still have several challenges in accessing market-based finance. As we strive to earn Trust, it is our collective responsibility to ensure that the Trust required for these investors and issuers to use the market is not broken.
I am deeply honored to receive this Fellowship, and with the support of the Institute and other market stakeholders, I look forward to advancing the work for which this recognition has been given.
Oscar N. Onyema, OON
CEO, The Nigerian Stock Exchange