Key Takeaways
- • The Chartered Institute of Stockbrokers (CIS) inducted 509 Associates, its largest intake in history, and elevated 63 members to Fellowship at its 30th Annual Conference in Lagos, held November 4-5, 2026.
- • CIS launched a N5 billion endowment fund to promote capital market research, professional education, scholarships, and a professorial chair, with Lagos State Governor Babajide Sanwo-Olu pledging state government support.
- • Speakers, including Chapel Hill Denham CEO Bolaji Balogun, argued that Nigeria's market must move from infrastructure gains to financing productive investment, noting the top 10 listed companies held about 72% of market value and market capitalisation was about 37% of GDP.
- • Regulators and officials, including SEC Director-General Emomotimi Agama, PenCom Director-General Omolola Oloworaran and DMO Director-General Patience Oniha, called for deeper bond markets, pension-fund deployment and innovative financing instruments.
Summary
The Chartered Institute of Stockbrokers (CIS) used its 30th Annual Conference, held in Lagos from November 4 to 5, 2026, under the theme "From Capital Mobilised to Prosperity Realised: Financing Nigeria's Next Era of Growth and Global Competitiveness," to challenge capital market operators, policymakers and regulators to direct market capital toward productive investment, business expansion, job creation and shared prosperity. According to the report published by Tribune Online, CIS President and 14th Chairman of Council Dr Fiona Ahimie said the market should be judged not only by market capitalisation, transaction volumes and funds raised but also by its contribution to infrastructure, industrial growth, employment and living standards.
The Institute recorded a historic expansion of its membership, inducting 509 Associates, its largest intake to date, and elevating 63 members to Fellowship. It also launched a N5 billion endowment fund to support research, professional education and human capital development. Lagos State Governor Babajide Sanwo-Olu endorsed the fund and pledged state government support, disclosing that Lagos had raised more than N200 billion through the capital market to finance infrastructure. The fund is expected to support capital market research, scholarships, a professorial chair and professional capacity development.
At the first executive panel, Chapel Hill Denham CEO Bolaji Balogun acknowledged gains from recent reforms, including the Investments and Securities Act 2025, the move from T+3 to T+2 and then T+1 settlement, and extended trading hours. He cautioned, however, that infrastructure improvements would not by themselves deepen the market. Although the market raised N6.49 trillion in 2025, the top 10 listed companies accounted for about 72% of total market value, and market capitalisation stood at about 37% of GDP. Balogun called for more quality listings, wider investor participation and instruments such as project bonds, infrastructure funds, Sukuk, green and orange bonds and convertible securities, and urged integrating the capital market into privatisation and infrastructure concession programmes.
SEC Director-General Dr Emomotimi Agama said the Commission is deploying technology to strengthen market surveillance and detect abuses. PenCom Director-General Omolola Oloworaran identified pension assets as a major source of long-term capital but cited limited liquidity, weak price discovery, inadequate listings and market concentration as constraints, and stressed prudence in protecting retirement savings. DMO Director-General Patience Oniha advocated deeper domestic bond market participation and diversified funding sources. Manufacturers Association of Nigeria Chairman Otunba Francis Meshioye, citing an estimated US$2.3 trillion infrastructure deficit, called for greater use of pension funds, infrastructure, green and Sukuk bonds, public-private partnerships, and long-term financing for manufacturers and SMEs.
NGX Group Chairman Alhaji Dr Umaru Kwairanga urged stockbrokers to act as proactive facilitators of economic development, and ASHON Chairman Sehinde Adenagbe stressed issuer profiling and due diligence. Participants also urged family-owned businesses to list on the Nigerian Exchange, citing the N2.15 trillion Dangote Refinery IPO. The conference also presented its maiden Presidential Awards, and other goodwill messages came from Vice President Kashim Shettima's representative, Dr Tope Fasua, Finance Minister Dr Taiwo Oyedele and House Committee on Capital Markets Chairman Hon. Solomon Bob.
The Institute recorded a historic expansion of its membership, inducting 509 Associates, its largest intake to date, and elevating 63 members to Fellowship. It also launched a N5 billion endowment fund to support research, professional education and human capital development. Lagos State Governor Babajide Sanwo-Olu endorsed the fund and pledged state government support, disclosing that Lagos had raised more than N200 billion through the capital market to finance infrastructure. The fund is expected to support capital market research, scholarships, a professorial chair and professional capacity development.
At the first executive panel, Chapel Hill Denham CEO Bolaji Balogun acknowledged gains from recent reforms, including the Investments and Securities Act 2025, the move from T+3 to T+2 and then T+1 settlement, and extended trading hours. He cautioned, however, that infrastructure improvements would not by themselves deepen the market. Although the market raised N6.49 trillion in 2025, the top 10 listed companies accounted for about 72% of total market value, and market capitalisation stood at about 37% of GDP. Balogun called for more quality listings, wider investor participation and instruments such as project bonds, infrastructure funds, Sukuk, green and orange bonds and convertible securities, and urged integrating the capital market into privatisation and infrastructure concession programmes.
SEC Director-General Dr Emomotimi Agama said the Commission is deploying technology to strengthen market surveillance and detect abuses. PenCom Director-General Omolola Oloworaran identified pension assets as a major source of long-term capital but cited limited liquidity, weak price discovery, inadequate listings and market concentration as constraints, and stressed prudence in protecting retirement savings. DMO Director-General Patience Oniha advocated deeper domestic bond market participation and diversified funding sources. Manufacturers Association of Nigeria Chairman Otunba Francis Meshioye, citing an estimated US$2.3 trillion infrastructure deficit, called for greater use of pension funds, infrastructure, green and Sukuk bonds, public-private partnerships, and long-term financing for manufacturers and SMEs.
NGX Group Chairman Alhaji Dr Umaru Kwairanga urged stockbrokers to act as proactive facilitators of economic development, and ASHON Chairman Sehinde Adenagbe stressed issuer profiling and due diligence. Participants also urged family-owned businesses to list on the Nigerian Exchange, citing the N2.15 trillion Dangote Refinery IPO. The conference also presented its maiden Presidential Awards, and other goodwill messages came from Vice President Kashim Shettima's representative, Dr Tope Fasua, Finance Minister Dr Taiwo Oyedele and House Committee on Capital Markets Chairman Hon. Solomon Bob.
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