Nigeria’s Chartered Institute of Stockbrokers (CIS) and the Chartered Institute for Securities & Investment (CISI), UK have reaffirmed their strong partnership through the signing of a renewed Memorandum of Understanding (MoU).

According to a statement from the CIS, this agreement, which was formalized in the United Kingdom, builds upon the existing collaboration between the two leading professional bodies.

It will also reinforce collaboration in the areas of certification, Continuing Professional Development (CPD), Membership drive, integrity, and sharing of the benefits of multiple learning opportunities and networking.

What CIS said:

Prior to the signing of the MoU, the President, of CIS, Oluwole Adeosun, briefed the management of CISI on the historical antecedents that led to the Institute’s chartered status and the ongoing efforts to expand the scope of the operations in line with its mandate by the Act of Parliament.

• “We are thrilled today as it marks another significant milestone in the extensive history of the Chartered Institute of Stockbrokers (CIS). 
• We have officially renewed collaboration with our strategic partner, the Chartered Institute for Securities & Investment (CISI) UK. 
• The partnership has continued to benefit both professional bodies. It aims at advancing capacity building, growing membership, and creating seamless learning opportunities for the members of the two major professional institutions, announced Adeosun, after the signing of the MoU,” said. 

What CISI said:

The Chief Executive Officer, of CISI, Tracy Vegro, also expressed delight at the sustained collaboration of the two professional bodies.

Vegro explained that Nigeria was one of the biggest markets to attract young ones to build a career in investment-related areas.

• “We are delighted to be building our already productive partnership further still. Our role as professional bodies is to ensure that our members uphold professional standards.
• This is one way the market can operate efficiently. We are glad to update our collaboration agreement, aiming to share the benefits of our multiple global learning and networks. 
• The appetite for learning and upgrade of qualifications from the young people in Nigeria is second to none. “. explained Vegro. 

What you should know:

The Chartered Institute of Stockbrokers (CIS) and United Kingdom-based Chartered Institute for Securities and Investment (CISI) had in 2019 deepened the scope of their Memorandum of Understanding (MOU) for enhanced global ethical and professional standards.

By the MOU, stockbrokers are eligible to become members of CISI, subject to compliance with some requirements, including participation in the global body’s Continuing Professional Development (CPD) and membership.

This is in addition to CIS’s membership and CPD requirements. CIS Nigeria members will also be offered access to seven professional qualifications of CISI, all

of which will be examined by Computer Based Testing (CBT) in Lagos. They are Securities (Capital Markets Programme), Derivatives (Capital Markets Programme), Certificate in Corporate Finance, Risk in Financial Services, Global Financial Compliance, Combating Financial Crime and Managing Cyber Security.