Key Takeaways
- • The Chartered Institute of Stockbrokers (CIS) inducted 509 Associates, its largest intake in history, elevated 63 members to Fellowship, and launched a N5 billion endowment fund at its 30th Annual Conference in Lagos on November 4-5, 2026.
- • The N5bn CIS Endowment Fund is intended to finance capital market research, professional education, scholarships, a professorial chair and human capital development, with Lagos State Governor Babajide Sanwo-Olu pledging state government support.
- • Speakers urged regulators, pension managers, debt managers and stockbrokers to shift focus from capital mobilisation to financing productive investment, with market capitalisation at about 37 per cent of GDP and the top 10 listed companies accounting for roughly 72 per cent of market value.
- • Officials cited the need to fund an estimated $2.3 trillion infrastructure deficit through pension assets, infrastructure and green bonds, Sukuk, project bonds and public-private partnerships.
Summary
The Chartered Institute of Stockbrokers held its 30th Annual Conference 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." CIS President and Chairman of Council Dr Fiona Ahimie said the market's success should be judged by its contribution to infrastructure, industrial growth, employment and living standards, not only by market capitalisation, transaction volumes and funds raised. The Institute recorded its largest-ever induction of Associates (509), elevated 63 members to Fellowship, and launched a N5 billion endowment fund to advance research, professional education and human capital development.
Securities and Exchange Commission Director-General Dr Emomotimi Agama said the Commission was deploying technology to strengthen market surveillance, regulatory oversight and the detection of market abuses. At the first executive panel, Chapel Hill Denham CEO Bolaji Balogun acknowledged gains from 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 automatically deepen the market: the top 10 listed companies accounted for about 72 per cent of total market value despite N6.49 trillion raised in 2025, and market capitalisation was about 37 per cent of GDP. He called for more quality listings and instruments including project bonds, infrastructure funds, Sukuk, green and orange bonds and convertible securities.
Pension Commission Director-General Omolola Oloworaran identified pension assets as a major long-term source of infrastructure capital, while stressing prudence and protection of contributors' savings. She cited limited liquidity, weak price discovery, inadequate listings and market concentration as constraints, and challenged stockbrokers to attract quality companies. Debt Management Office Director-General Patience Oniha called for deeper domestic bond market participation and diversified funding sources. Manufacturers Association of Nigeria Chairman Otunba Francis Meshioye argued that Nigeria's financing gap lies in the limited channels reaching productive enterprises, and advocated pension-fund mobilisation, infrastructure and green bonds, Sukuk, public-private partnerships, long-term manufacturing finance and SME credit guarantees.
Nigerian Exchange Group Chairman Alhaji Dr Umaru Kwairanga urged stockbrokers to act as proactive facilitators of economic development and cited the African Exchanges Linkage Project for cross-border investment. Association of Securities Dealing Houses of Nigeria Chairman Sehinde Adenagbe stressed issuer profiling and due diligence. Participants also pointed to the N2.15 trillion Dangote Refinery IPO, which drew investors from all 54 African countries, as evidence of the market's capacity to raise capital. Governor Sanwo-Olu, a stockbroker himself, said Lagos State had raised more than N200 billion through the capital market for infrastructure. The conference also presented the maiden Presidential Awards, and included a Prosperity Walk and visits to Vitafoam Nigeria Plc and Berger Paints Nigeria Plc.
Securities and Exchange Commission Director-General Dr Emomotimi Agama said the Commission was deploying technology to strengthen market surveillance, regulatory oversight and the detection of market abuses. At the first executive panel, Chapel Hill Denham CEO Bolaji Balogun acknowledged gains from 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 automatically deepen the market: the top 10 listed companies accounted for about 72 per cent of total market value despite N6.49 trillion raised in 2025, and market capitalisation was about 37 per cent of GDP. He called for more quality listings and instruments including project bonds, infrastructure funds, Sukuk, green and orange bonds and convertible securities.
Pension Commission Director-General Omolola Oloworaran identified pension assets as a major long-term source of infrastructure capital, while stressing prudence and protection of contributors' savings. She cited limited liquidity, weak price discovery, inadequate listings and market concentration as constraints, and challenged stockbrokers to attract quality companies. Debt Management Office Director-General Patience Oniha called for deeper domestic bond market participation and diversified funding sources. Manufacturers Association of Nigeria Chairman Otunba Francis Meshioye argued that Nigeria's financing gap lies in the limited channels reaching productive enterprises, and advocated pension-fund mobilisation, infrastructure and green bonds, Sukuk, public-private partnerships, long-term manufacturing finance and SME credit guarantees.
Nigerian Exchange Group Chairman Alhaji Dr Umaru Kwairanga urged stockbrokers to act as proactive facilitators of economic development and cited the African Exchanges Linkage Project for cross-border investment. Association of Securities Dealing Houses of Nigeria Chairman Sehinde Adenagbe stressed issuer profiling and due diligence. Participants also pointed to the N2.15 trillion Dangote Refinery IPO, which drew investors from all 54 African countries, as evidence of the market's capacity to raise capital. Governor Sanwo-Olu, a stockbroker himself, said Lagos State had raised more than N200 billion through the capital market for infrastructure. The conference also presented the maiden Presidential Awards, and included a Prosperity Walk and visits to Vitafoam Nigeria Plc and Berger Paints Nigeria Plc.
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