By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Oscar Onyema, the Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE) Monday warned newly inducted stockbrokers against market infractions.

Onyema gave this warning in his opening remark at the induction ceremony of newly qualified dealing clerks at the stock exchange house in Lagos Nigeria.

“It is also no longer news that we have strengthened our Legal and Regulation Division. It should be noted that we are maintaining and will continue to maintain zero tolerance to sharp practices and deploying requisite technology and expertise to curb and arrest any form of manipulation from all quarters,” he said.

He said the day also marks a call to stand tall in integrity, to be impeccable in character, to be professional in service and to be high in ethics and standards.

According to him, for all recently qualified stockbrokers, it goes without saying that the investing community will know and judge the Nigerian capital market (NCM) through their exemplary character and service, also in the manner in which they engage, interface and service their clients will go a long way in shaping the perception of our market.

“As you all go into a new stage in your careers, there is one important point you must all remember “You are all ambassadors of this great institution – I hope you will not let us down, but rather become embodiments of committed service,” the NSE CEO said.

Onyema affirmed that the Exchange expect the newly inducted stockbrokers to uphold the tenets of peaceful, innovative and harmonious working relationship and will count on their support to help in achieving the highest level of competitiveness in delivering service excellence and a first rate capital market experience.

He further affirmed that of the 81 candidates who passed the CIS examination and went through the 15 days of practical ATS training at the Exchange, only 55% passed the oral examination at the Exchange.

“You are all witnesses to the fact that The NSE continues to evolve to achieve the highest level of competitiveness, operating fair, orderly and transparent markets that bring together the best of African enterprises, as well as local and global investor communities.

It is already in the news that we signed on multinational financial services powerhouse, NASDAQ OMX to provide our new Trading Platform, X-Gen which will enable The Nigerian Stock Exchange to have a more accessible and perhaps the fastest trading engine in Africa,” he said.