CIS targets N5bn revenue in 2014

The President of the Chartered Institute of Stockbrokers (CIS), Mr.Albert Okumagba, has urged fellows of the insti­tute to take position in gov­ernment just as it plans to achieve N5billion revenue target before the end of the year.

Okumagba , who made the appeal Friday in Lagos when top brokers gathered for a ‘Brunch with the President’, said CIS fellows’ taking up leadership positions in the market and government would help the institute achieve suc­cess in the implementation of its programmes.

He added: “We have gone into collaboration with strate­gic bodies to ensure that Char­tered Institute for Securities and Investment(CISI) Bill is passed into law before the end of the year. For this to happen, we want many fellows of the institute to join in a series of visit to the leadership of the National Assembly and the Economic team in October and November.”

On the finance of the insti­tute, its Finance Committee Chairman, Mr.Abubakar La­wal, said the going concern of CIS is threatened as it has N109 million negative assets. “We needed to quickly repo­sition the institute.We create opportunities for others and yet we are not where we are supposed to be.As investment bankers, we put many in the position to earn a living.We should be conscious of what we should do, what we sup­posed t be doing and what we are capable of doing,” he stated.

On the N5billion revenue target, Abubakar said the insti­tute could achieve considering what CIS has done to positive­ly impact the economy.

His words: “I implore every one, especially the fellows to see what roles you are going to play as individuals by por­traying our profession through the way you conduct your­selves. To achieve the N5bil­lion mark, we have identified 30 investment banking groups that will work with us and oth­er organizations that will listen to us. We are still in a take-off stage and the N5billion is not a threat to many of us. But the issue is the commitment of our members to move together as a team.”

Urging members to show dedication, a former President of the Institute and Chairman, Board of Fellows, Mr Oladipo Williams, said history would judge those who contribute their quota to the institute fa­vourably while pledging the support of his board to the CIS Exco in achieving all their pro­grammes.

Source : SunOnline

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