The Chartered Institute of Stockbrokers (CIS) and Lagos Business School (LBS) have signed a Memorandum of Understanding (MoU) for training of professionals in the financial market to upscale their competence and enhance global competitiveness.

A statement from the institute on Tuesday stated that its recently inaugurated subsidiary, CIS Academy, would drive the training processes with LBS.

According to CIS, the MoU is expected to bring about comprehensive and practical trainings that cover technical and ethical needs of finance professionals.

It will also entail case studies and emerging trends in the global financial market and cement the relationship between CIS and LBS.

Commenting on the landmark MoU, the institute’s President, Mr Wole Adeosun, said that it was significant being the first time the capital market operators would collaborate with a private sector training institute.

“The Mou is quite significant in the sense that this is the first time we are having a collaboration between the capital market and a private sector training institute at Lagos Business School (LBS).

“This collaboration will provide a link between the executive education and the capital market. It will afford members the opportunity to come for more quality programme.

“The training will be much more affordable for them. It shall be well packaged to enable participants derive value. The capital market is expanding and we want as many people as possible to benefit from such collaboration.

“Our two institutions share a lot in common. We were both established at about the same time: LBS in 1991 and CIS chartered in 1992.

“We both share a common mandate to train and produce professional leaders for the Nigerian economy, and we have both acquainted ourselves remarkably in this regard, setting the pace and standards in our various jurisdictions,” Adeosun said.

The Dean, LBS, Prof. Chris Ogbechie, said that by the MoU, “two strong brands” would be coming together with similar values to improve executive capacity in the capital market.

Ogbechie said that the MoU would also make the players in the market to be more professional and to operate in more ethical way  to grow our economy.

The ceremony was attended by the institute’s 1st Vice President, Mr Oluropo Dada; 2nd Vice President, Mrs Fiona Ahimie; Registrar and Chief Executive, Mr Josiah Akerewusi and some staff of LBS.