The Chartered Institute of Stockbrokers (CIS) has announced the election of Olatunde Amolegbe, as its new President and Chairman of the Governing Council.
Amolegbe, an accomplished investment analyst, and a Fellow of the Institute was until his election the First Vice President of CIS.
Amolegbe as the new president succeeded Adedapo Adekoje at the institute’s maiden virtual Annual General Meeting (AGM).
Other elected members are, Oluwole Adeosun who was the Second Vice President now the First Vice President, while Oluropo Dada, Chief Executive Officer became the new Second Vice President.
Adedeji Ajadi, the institute’s Registrar and Chief Executive in a statement make known that Nkoli Erika, Jude Chiemeka, Garba Kurfi, were re-elected to the council.
While Martins Olaolu, Babarinde Sunday and Momoh Mohammed, were also elected into the council.
Adekoje will be handing over officially to Amolegbe as the president elect in an investiture ceremony at a later date.
Adekoje in his valedictory speech expressed satisfaction that his administration was able to achieve landmark projects in spite of the inclement operating environment.
Adekoje who assumed office as CIS President in April 2018 attributed the success made to divine intervention and unflinching support of every member of the institute.
He pledged to continue to support the institute in whatever capacity, urging members to rally round the incoming administration for sustainable achievements.
“The operating environment was, and still is, very challenging for our members, as a result of which only about 25 per cent of them are able to pay their annual subscriptions to the institute.
“On top of this, the general macro-economic situation of the country also meant that getting grants from benevolent institutions became very difficult.
“We tasked ourselves in council, financially and otherwise; sacrificed a whole lot of our normal privileges, and like true generals, led the battle from the front.
“By so doing, we gave inspiration to other members who came out to serve in various committees and others who expressed their supports in various other ways.
“It gives me exceeding fulfillment to note that I am leaving the office of president with a solid foundation laid for the financial recovery of the institute.
“Our renewed march toward the restoration of the Securities and Investment profession as the major driver of the Nigerian economy is well on course.
“I am very happy to announce that, not only have we fully paid for our secretariat building, but a transformational renovation is being carried out to create a truly befitting ambiance and world class working environment for the staff.
“The institute, through its very successful Special Membership Window, is beginning to address one of its major weaknesses, as we now have several fully qualified members in diverse sectors of the Nigerian economy, such as the academia, public sector and topmost echelon of corporate Nigeria.
“One of our cardinal objectives during my tenure was to devote much more energy, resources and creativity to our advocacy activities, with the ultimate aim of elevating the status of the capital market in the scheme of things nationally.
“In this regard, we have engaged government at the very highest level, with strategically structured communication with the Presidency and the National Assembly,” Adekoje said.
