The Chartered Institute of Stockbrokers (CIS) has awarded scholarships to 31 financial journalists to undergo its Diploma Two Progamme in Securities and Investment Market, geared towards strengthening information dissemination.
The programme would not only deepen the beneficiaries’ knowledge of the market but pave way for them to aspire to become professional securities dealers.
Adedapo Adekoje, CIS President, while addressing the beneficiaries in Lagos on Thursday, explained that it was part of the Corporate Social Responsibilities (CSR) to upscale the skills of those who covered the capital market for professional reportage.
Adekoje underscored the high propensity for market information by the stakeholders in the capital market ecosystem and the roles of financial journalists in the process.
“It is hardly contestable to say that investors, especially in Nigeria, form their opinion of the capital market from what they read in the mass media. In recent years, this has been further amplified by the social media.
It is therefore critical that financial journalists are well- informed about the market such that they can give enlightened and balanced reporting.
“In recognition of the very important role of journalists in the Securities and Investment industry, the CIS council recently approved a scholarship scheme that will enable outstanding financial journalists undertake the CIS Diploma in Securities and Investment (DSI) programme at no cost.
The scholarship will cover registration fees, examination enrolment fees and study materials.
“The CIS Professional Diploma in Securities and Investment will give you immense opportunities to understanding the capital market better and position you just one step away from becoming Chartered Stockbrokers.
“I encourage you to make the most of this rare opportunity and make it count in your professional journey.
“Domestic investors need education and enlightenment. They need to know the facts behind the numbers that are unleashed on them every day. They need to appreciate that over the long term investors in properly constructed stock portfolios will be net winners, as consistently reported by researchers.
“The youths must be educated, market operators must be assisted to continually upgrade their skills, and most importantly, investors must be given the right and adequate information to protect them from losing their hard earned money. In all this, financial journalists, play a major role.
“They need to appreciate that the Chartered Institute of Stockbrokers today offers her students the choice of becoming a full-fledged omnibus broker or specialist in any of five stand- alone professional areas, such as fixed income dealing, investment advisory services, equity dealing, commodity trading.
“The question is, how will this information get properly disseminated to investors, the Nigerian youths and the general public? The answer is robust financial journalism,” Adekoje said.
The Guest Speaker and Publisher of BusinessDay, Frank Aigbogun, who spoke on the “Roles of Financial Journalism in Fostering Capital Market Literacy “urged the awardees to uphold the highest tenets of professionalism in order to contribute immensely to the growth and development of the market.
He advised the beneficiaries to be on top of the global developments in the financial market and leverage on their professional and technical knowledge to drive debates on topical economic issues in order to influence public policy positively.
The Institute’s Registrar and Chief Executive, Adedeji Ajadi, explained that the scholarship had a life span of one year within which the beneficiaries would write examination twice.
According to him, the examination will hold between June and September and urged them to attend study centres for intensive coaching.
Also speaking, the Chief Executive Officer, Sofunix Investment and Communications, Sola Oni, urged the beneficiaries to develop interest in the entire sectors of the economy.
According to him, the capital market is the closest to academics and requires a lot of research. Oni noted that quoted companies cut across the entire sectors and modern investors demand for analytical information that enhances investment decision.