Governing Council

The CIS is governed by a council of 27 members. The Governing Council has overall responsibility for the administration and general management of the Institute. It is empowered to do anything which in its opinion is calculated to facilitate the carrying on of the activities of the Institute. This consists of elected, appointed and ex-officio members.

The statutory composition of the council is as follows:

    1. The President of the Institute (who is also the Chairman of the Council)
    2. Two Vice-Presidents
    3. A representative of the Securities and Exchange Commission
    4. A representative of the Nigerian Stock Exchange
    5. Two representatives of the Banker’s Committee
    6. Twelve elected members of the Institute
    7. Two persons representing institutions of higher learning in Nigeria
    8. A representative each of the following Ministries:
      • Finance
      • Education and
      • Women Affairs and Youth Development
    1. Past Presidents of the Institute (to serve for a maximum period of three years from the expiration of their terms of office as President)

Meet The Council Members

The Governing Council of CIS is composed of distinguished and seasoned professionals including the following:


Mr. Adeosun is the Managing Director /Chief Executive Officer of Chartwell Securities Limited and a current National Council Member of The Nigerian Stock Exchange.

He was the Group Head, (Investment Banking), and Group Head, (Corporate Banking) Intercontinental Bank Plc between 1991 and 2000. He later rose to become the Chief Executive Officer of Intercontinental Securities Limited from 2000 -2007.

Mr. Adeosun served as a Pioneer member of the Governing Council of Abuja Securities Exchange (now National Commodity Exchange) from 2005-2007.

He obtained B.Sc. (Hons.) in Business Administration from the University of Ilorin in 1986. He enrolled for the elite Lagos Business School’s Chief Executives Program (CEP15) which he completed in May 2006.

He was at the prestigious New York Institute of Finance for the flagship US Capital Markets program amongst other executive training programs.

Mr. Adeosun holds a Multiple Registration Status with the Financial Reporting Council of Nigeria and is a Fellow of the following professional bodies- CIS, ICAN, CIBN, CITN and IoD. He is also a member of the Society for Corporate Governance Nigeria, Ikoyi Club 1938 and The Lagos Country Club.

Mr. Adeosun is also a Minister of the Gospel.


Mr. Dada is the Managing Director/CEO of Network Capital Limited.

Mr. Dada was a member of Senior Management staff of Marina International Bank Limited, that later merged with Access Bank Plc, where he was seconded to Marina Securities Limited to function as General Manager and Chief Operating Officer. He was also the Chief Executive Officer of Pyramid Securities Limited for a period of six years.

He obtained a BSc. in Business Administration from the University of Lagos in 1988 before proceeding to Leeds Beckett University (Formerly Leeds Metropolitan University) Leeds, United Kingdom for his MSC. Corporate Governance.

Mr. Dada is an accomplished stockbroker and banker. He qualified as an Authorized Dealing Clerk of The Nigerian Stock Exchange in 1995 while working as a Credit Officer with the defunct Abacus Merchant Bank Limited

He is also a Fellow Member of the Chartered Institute of Bankers of Nigeria, an Associate Member of Certified Pension Institute of Nigeria and a Member of the Society for Corporate Governance, Nigeria.

His work experience covers stock broking, issuing house activities, credit appraisal, accounting, investment advisory services, and general administration. He is an alumnus of New York Institute of Finance, New York, United States of America and Leeds Business School, Leeds, United Kingdom.


Fiona is currently the Managing Director of FBNQuest Securities Limited.

Fiona started her career as a Stock Analyst, Financial Advisor and Accounts/ Investment Manager with Axial Ventures Limited in July 2005. She later joined FBN Capital Limited as the Head of Sales Trading and sales team mate. Later, she joined African Alliance Stockbrokers Limited as the MD/CEO in May 2015. She was appointed the Deputy Head of Sales Trading by Stanbic IBTC Stockbrokers Limited in May, 2015. Prior to this appointment, Fiona was the Senior Analyst/Deputy head of Asset Management Department of Lead Capital Plc.

Fiona graduated from Lagos State University, Nigeria with B.Sc. Accounting, Second Class Upper (2.1) in 2005 and holds an MBA in Business Administration from Lagos Business School.

Fiona is an Fellow Member of the Chartered Institute of Stockbrokers, Associate Member of Chartered Accountants of Nigeria (ACA) and Associate, Association of Accounting Technicians (AAT)

She has also attended a number of courses, local and international on behavioural, managerial and financial analysis.


Mr. Josiah Dimeji Akerewusi has an unyielding desire to achieve excellence in everything he does. A versatile professional with over 29 years post-graduate experience which cuts across Banking, Insurance, Auditing, Accounting, Taxation, Management and Financial Advisory Services, Financial Control as well as Securities Dealing and Assets Management.

He is an astute administrator and multiple award-winning professional, imbued with good leadership skills, humility and passion for selfless service.  He is adept at creating lasting professional relationships with colleagues on the strength of honesty and integrity. Josiah is proficient in Microsoft Office Suite, Daceasy, Peachtree, QuickBooks, Symbols (Stockbroking Software), Info WARE (Stockbroking/ Asset management Software), Global Suite (Stockbroking/Asset management Software), and Sage Accounting package.

In his previous as role as an Assistant Director/ Head, Finance & Accounts, he has gained a reputation for improving the Institute’s Financial Control and quality of financial reporting, with operational efficiency and effectiveness by aligning   his team work  to the overall goals of the Institute.

He is currently the Registrar and Chief Executive, Chartered Institute of Stockbroker and a Doctoral student of Business Administration at Unicaf University, Cyprus.


Mr. Amolegbe is the Immediate Past President/Chairman of the Council of the Chartered Institute of Stockbrokers.

Mr. Amolegbe is the Managing Director /Chief Executive Officer of Arthur Steven Asset Management Limited.

He has vast cognate experience in Investment Banking, Corporate Finance, Asset/Portfolio Management, Securities Trading and Investment Analysis & Research. He has worked in many reputable organisations such as IMB Securities Plc (a Subsidiary of IMB Plc), Securities Solutions Limited (a Subsidiary of FSB International Bank), FCMB Pension Managers Ltd (Formerly Legacy Pensions PFA).

Mr. Amolegbe obtained a B.Sc and MBA from the prestigious University of Ilorin, Kwara State and also has an M.Sc (Corporate Finance) from University of Liverpool, U.K. He is also an Associate of the Certified Pensions Institute.

He has previously served the Institute in capacities such as the Chairman of the Programmes and Education Committees.

He is happily married with children.

BSc. (Hons), MBA, MSc, FCIP, FIoD

He is currently, Chairman Axamansard Pensions PFA; Director Jaiz Bank Plc, Director Kano Electricity Distribution Company (Kano Disco) GMD & CEO Finmal Finance Services Limited.
Dr. Kwarianga served on the Board of Ashaka Cement Plc for over ten years, first as a Director later as Chairman of the Board; Former Director in Lafarge Africa Plc, Central Securities Clearing System Limited (CSCS) and FBN Mortgages Ltd.

He is a holder of higher degrees in Business Administration, Governance and Finance. Dr. Kwarianga has attended high level courses in Corporate Governance, the capital market and Investment in world class institutions including Harvard Business School, New York Institute of Finance, Hawthorne Business School, the University of Philadephia. He is also a Doctor of Bus. Admin (Honoris) from Igbinedion University Okada, Edo State.

Dr. Kwarianga has been involved in policy and strategy formation in both Private and Public sectors through his involvement in the Vision 2020, Presidential Advisory Committee (PAC) on the Nigerian Industrial Revolution Plan (NIRP), as well as being a former Council member of the Nigerian Stock Exchange (NSE).

He is a Member Chartered Institute for Securities & Investment (CISI), UK.


Mrs. Nkoli Edoka is an experienced Investment Professional with over 17 years of progressive experience in the Capital Market and Investments. A key area of expertise includes General Finance, Financial Advisory, Securities Dealing, and Asset Management. She holds a Master’s degree in Investments & Finance with a pathway in Investment Banking & Capital Market from the London School of Business & Finance & Master’s in Business Administration and Management majoring in Finance from Lagos State University.

Nkoli is the current Managing Director/CEO of Cowries Securities Limited. Prior to becoming the MD/CEO, she was the Divisional Head of Retail Banking of the company.

Nkoli worked in various capacities with IDEAL Securities and Investment Limited between 2004 – 2007 as a Marketing Executive, Operations, Portfolio Manager, and Authorized Securities Dealer, and later moved to Primewealth Capital Limited in 2007 through 2012 as the Head, Capital Market and Head of Business Development & Securities Trading. She also worked at Afri-United Services Limited (Maritime) between 2000 – 2004 as a Finance personnel and at Nigerian Ports Authority (Abuja) from 1999 to 2000 as Corp Member in Admin Department.

Nkoli has undergone many International Training/courses and currently functions as a Council Member of the Chartered Institute of Stockbrokers. She is a Member of the Chartered Institute of Securities and Investments, UK, and a Fellow member of the Institute of Credit Administration.

Nkoli has a proven track record in linking corporate vision to the delivery of desired results through people empowerment and the effective use of resources, processes, and technologies. She has demonstrated the ability to plan, develop and manage investments with a keen focus on maximizing gains while maintaining appropriate risk tolerance levels.


Mr. Garba, Kasimu Kurfi is a Chartered Stockbroker with extensive knowledge and experience in Securities Dealing and Asset Management and is the Managing Director & Chief Executive Officer of APT Securities and Funds Limited.

He is a Fellow of the Chartered Institute of Stockbrokers, the Institute of Chartered Accountants, and an Associate member of the Certified Pension Institutes of Nigeria. He was an elected Council member of The Nigerian Stock Exchange from 2010 to 2014.

Mr. Garba Kurfi is equally a seasoned Investment Manager with over fifteen years of Capital Markets experience. He worked with NEWDEVCO Investment and Securities Limited from 1994 to 2002 and New African Merchant Bank Limited from 1992 to 1994.

Mr. Garba has a Master’s degree in Accounting from the University of Lagos in 1997 and had earlier obtained his Bsc. in Accounting with 2nd Class Upper Division from Bayero University in 1987.

Mr. Garba, Kasimu Kurfi is a Director of the under-listed companies/establishments;


Mr. Akinyemi is the Managing Director of Valmon Securities Ltd; a position he has been holding since 2012.

He started his career in Prudent Merchant Bank Ltd in 1990 and moved to Options Securities Ltd in 1993 before joining Kinley Securities Ltd as the pioneer General Manager in 1997. He then moved to Valmon Securities Limited as General Manager in 2001.

He holds BA(Hons) Degree in English from University of Ibadan (1985), Post Graduate Diploma in Financial Management from University of Ibadan (1996) and MBA from Edo State University, now Ambrose Alli University, Ekpoma (1999).

He became an Associate of the Chartered Institute of Stockbrokers in January 1995 and was admitted as a Fellow of the same Institute in August 2010.

He attended various courses on Capital Market Operations both in Nigeria and Overseas. He attended a Course on Trading in Foreign Currencies/Indices with Henyep Investment (Europe) Ltd in London, U.K between November and December 2000. He was also at Mac Robinson College of Business, Georgia State University, Atlanta, USA where he attended a training programme in Integrated Leadership and Business Simulations June 2008.

He served the Chartered Institute of Stockbrokers as an examiner from 2008 to 2013. He also served on the Education Committee of the Institute from 2013 to 2014.

He is currently a Council Member of the Chartered Institute of Stockbrokers.


Mrs. Ebi is the GMD/CEO of Futureview Financial Services Limited.

She is the first female licensed stockbroker and first female founder of an investment banking firm in Nigeria.

She was the MD/CEO of Futureview Securities Ltd, before the holding Company was formed in 2008 to oversee the group’s wider interest in Investment Banking, Oil & Gas, and Agro-Allied sectors of the economy as well as the Commodities and Currency markets.

She had her academic foundation with a first class B.Sc. Degree in Business/Health Administration (Magna Cum Laude) from New York University and obtained an MBA (Finance and Investment) from the George Washington University, USA, in 1980.She is a graduate of the International Banking Summer School, Cambridge University, UK.

Mrs. Ebi is an expert in the structuring, documentation, securitization, marketing of capital market issues and asset & liability management.

She serves on the Board of several companies and institutions including PZ Cussons NigeriaPlc,Redeemers University of Nigeria, African Missions Global, and also as Special Trustee in Africa to the European Economic Development Council (EEDC).

Over the years, she has won several laudable awards for her contribution in the Nigerian Capital Market including her induction into the Nigeria Women Hall of Fame by the National Centre for Women Development, Abuja in 2008.


Lilian Olubi – Chief Executive Officer, EFG Hermes Nigeria Ltd.

Lilian is a seasoned Finance and investment professional with over twenty years of Capital Markets experience and notable demonstrated capabilities. She is the CEO of EFG Hermes Nigeria Limited, the Nigerian equities trading arm of the EFG Hermes Group, a leading global financial institution listed on both the London and Egypt Stock Exchanges.

She was the co-founder and partner with Primera Africa Finance Group where she served as Chief Executive Officer of one of the group’s subsidiary companies, Primera Africa Securities Limited before its acquisition by the EFG Hermes Group.

With significant experience dealing with all the investor segments, she began her Securities trading career at CSL (a member of the FCMB group), working in various capacities spanning Operations, Investment Management and Research before joining the Sales & Marketing team.

Prior to Primera Africa Securities, she worked at Afrinvest (West Africa) Limited as Head of its Private Client Services overseeing the marketing functions and initiatives across its branches.

She is a Chartered Stockbroker and Authorized Dealing Clerk of the Nigerian Stock Exchange, an Associate of the Chartered Institute of Securities & Investments UK, Certified Pensions Institute of Nigeria and an alumna of the Lagos Business School.


He is the first Professor of Accounting of Obafemi Awolowo University.

He was employed by OAU in 1989 as an Internal Auditor 2 and his appointment was transferred to the Department of Management and Accounting in 1993 as a Lecturer One upon his qualification as a Chartered Accountant.

He served as Head, Department of Management and Accounting and Coordinator, Executive MBA Programme for 5 years between 2008 and 2014.
He was elected to serve as the Dean, Faculty of Administration between 2014 and 2016.

He has published over 60 journal articles and textbooks covering different areas of Accounting, Management and Entrepreneurs.

He attended primary and secondary schools in Ibadan and sat for the WASCE in 1980. He attended the University of Ife in 1983 to study Accounting and graduated in 1987.

He completed his PG. D (Computer Science) in 1990, MBA in 1993, M. Phil in 2001 and Ph. D in 2004. He was promoted Senior Lecturer in 1996, Reader in 2005 and Professor of Accounting in 2008.

Prof. Asaolu is currently a Council Member of the Chartered Institute of Stockbrokers and once served as a member of the Governing Board of the Administrative Staff College of Nigeria (ASCON).

Prof. Asaolu has visited countries like USA, UK, Singapore, China, Canada, India, South Africa, Kenya, Uganda, Ethiopia, Ghana, Gambia, Senegal, UAE, etc.

He has successfully supervised more than 30 Ph. D holders and over 200 M. Sc/ M. Phil graduates. 6 of his Ph. D students are full professors today to the glory of God.

Professor Asaolu is married, has 6 children and 4 grandchildren.


Mr. Chiemeka has over twenty-eight (28) years of professional experience in Securities Trading and Asset Management across markets in Africa. He joined The Nigerian Stock Exchange as the Divisional Head of Trading Business in February 2019 and is now the Divisional Head of Capital Markets at Nigeria Exchange Limited. Before joining the Exchange, he worked with United Capital Securities Limited, a subsidiary of United Capital Plc. As the MD/CEO of United Capital Securities Limited, he championed the first cross broader trading under the West African Capital Market Integration initiative and was also responsible for Strategy, Market penetration, Product development, and Client Management. He also championed the issuance and listing of the First Eurobonds Mutual Fund ($10M) listed on the Nigerian Stock Exchange and Wealth for Women Mutual Fund, the first gender-focused mutual fund listed on the Nigerian Stock Exchange.

Before joining United Capital Plc, He was the CEO/MD of Chapel Hill Denham Securities where he was responsible for Strategy, Leadership, Product development, and Customer relationship management. He led the firm to rank among the Top 10 brokerage firms responsible for over 70% of market trades with a 4% market share. Prior to that, he was the CEO/MD of RenCap Securities (Nigeria) Limited a fully-owned subsidiary of Renaissance Capital Plc. At RenCap Securities he was responsible for Customer relationship management, Trading, Management reports, Budgets, and client acquisition.

In 2008, prior to joining RenCap, he was the Head of Securities Trading at Afrinvest West Africa Ltd where he was responsible for Fixed Income and Equities Transactions across African markets for International and domestic institutional clients. He was also involved in several landmark transactions including the first Global Depository Receipts (GDR) transaction on the floor of the Nigerian Stock Exchange, Nigerian International Debt Fund, Reverse GDR trades, etc. Prior to this, he was with Dominion Trust Limited where he started his career in 1994.

He is a Fellow and Council Member of the Chartered Institute of Stockbrokers (FCS), a Member of the Institute of Directors (IOD), a Fellow of the Association of Investment Advisers and Portfolio Managers, and an Associate of the Certified Pension Institute of Nigeria.

He completed the Oxford Business School Advanced Management Program (AMP) in 2007, a Master in International Law and Diplomacy in 2004 from the University of Lagos, and the Lagos Business School Senior Management Programme in 2001. He has a BSc. degree from the University of Lagos in 1992.

Mr. Jude Onyeka served as a member of the Annual Conference Committee and is currently a member of the Investigating Panel of the Chartered Institute of Stockbrokers.


A consummate professional with over three decades of public and private sector experience, collaborating with businesses, strategic partners, national and subnational governments, regulatory and self-regulatory organizations, and supporting development partners to implement goal-oriented projects and development initiatives across the West African sub-region, particularly in Nigeria, Gambia, Sierra Leone, Liberia, and Ghana.

A Fellow and Visiting Lecturer at the Department of Finance, University of Lagos, and Facilitator at the University of Lagos Business School, Dr. Momoh has worked with a diverse spectrum of companies and clientele in both the public and private sectors. He was Head of the Nigeria Stock Exchange’s Risk and Regulation Directorate, Broker Dealer Regulation, Strategy Department, Listings and Monitoring Unit. Also, Group Financial Accountant, Regional Account Manager, and Group Inventory Controller, among many other positions, were held at Dangote Group. He trained and practiced as a Securities Dealer at TRW Stockbrokers Limited.

An alumnus of the Leeds Beckett University, Lagos Business School, Ambrose Alli University, Lagos State University, and Auchi Polytechnic with specialized training under the World Bank Institute (WBI), the International Monetary Fund (IMF) Institute and the West Africa Institute of Finance and Economic Management (WAIFEM), he holds a Ph.D. Finance and Economics from Leeds Beckett University, with a Bachelor of Science in Banking and Finance, Masters’s degrees in Economics, Legal Studies (specializing in Administrative and Policy Studies), and Corporate Governance.

A Fellow of the Chartered Institute of Stockbrokers, Institute of Chartered Accountants of Nigeria, Chartered Institute of Taxation of Nigeria, Chartered Institute of Arbitrators of Nigeria, and Nigerian Institute of Training & Development (NITAD). He is a Certified Public Private Partnership Specialist, Project Management Professional, with an Advanced Management Programme (AMP) Certification. A member of the Nigerian Economic Society, Canadian Economic Association, and American Evaluation Association, and Certificated Teacher Grade A by the Teachers Registration Council of Nigeria.

Dr Momoh is currently the Managing Partner, of Ali Momoh & Company, a Consulting firm with a specialty in audit and accounting, taxation, capacity building, and transaction advisory. He is the Investment Thematic Lead, National Assembly Business Environment Roundtable (NASSBER), and a Member of the Governing Council of the Chartered Institute of Stockbrokers. He was a member of the Governing Councils of the Nigerian Institute of Arbitrators and the Nigeria Institute of Training and Development. He also served on the Marketing Commission of the Nigerian Olympic Committee, the Stock Exchange’s Investigation Panel, and the Inter-Agency Committee on Consolidated Supervision of Financial Institutions of the Central Bank of Nigeria, as well as the Infrastructure Technical Working Group for the Nigeria Medium Term National Development Plan (2021-2025).


Mr. Babarinde Sunday Ademola is a proficient Investment Professional and the Managing Director/CEO of Reward Investments & Services Limited.

He holds an MBA from Enugu State University of Science & Technology, Enugu.

Mr. Babarinde is an Associate of the Institute of Capital Market Registrars and a fellow member of the following professional bodies;

  • Chartered Institute of Stockbrokers.
  • Institute of Chartered Accountants of Nigeria
  • Chartered Institute of Taxation of Nigeria

He currently functions as a Council Member of the Chartered Institute of Stockbrokers and serves on the Education Committee and the Investigating Panel of the Institute.


Barrister Mustapha Akaje, FCS is currently a Deputy Director in the employment of Federal Inland Revenue Service (IFRS) and the head of Tax Operations superintending over the Tax Incentives Management offices, nationwide. He had his broker dealership’s training and experience with Finmal Financial Services Limited and APT Securities Limited.

He is a multi-disciplinary scholar. He obtained his first degree, Bachelor of Science in Public Administration from the University of Ilorin in 1991 and his second degree, Master of Science in Management from the University of Lagos in 1996. In 2004, he bagged a Bachelor of Laws from the University of Abuja and later proceeded to obtain a Master of Laws at the same University in 2016. He is currently pursuing his PhD in Law from the same University. He also obtained a Post Graduate Diploma in Education from the Usman Danfodiyo University, Sokoto in 2013.

Professionally, Mustapha Akaje, Esq, a Barrister and Solicitor of the Supreme Court of Nigeria since 2007, obtained his Authorised Clerkship Licence from the Nigerian Stock Exchange, now Nigerian Exchange Plc, in May 2010.  He is a distinguished Fellow member of many prestigious Chartered Institutes in Nigeria; namely Fellow of the Chartered Institute of Stockbrokers of Nigeria (CIS) in 2019, Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) in 2018, Fellow of the Chartered Institute of Taxation of Nigeria (CITN) in 2018, Fellow of Institute of Management Consultants of Nigeria in 2018, Member of the Nigerian Institute of Chartered Arbitrators Nigeria (NICARB) in 2019 and Member of Commodity Brokers Association of Nigeria (CBAN) in 2009. He is also an Associate Member of the Chartered Institute for Securities and Investment (CISI) United Kingdom (2018), an Associate member of the Institute of Capital Market Registrars (ICMR) 2007 and an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) 2019.

With his academic and professional multi-disciplinary background, Mustapha Akaje, FCS is a versatile resource person that has made significant contributions in his work life for over three decades. Early in his career, he worked in some private establishments. But he has more work experience in public sector administration and management and has successfully applied his verse academic knowledge and professional competencies of Public Administration, Management, Law, Accounting, Taxation and Capital Market Operations to make value addition to the work processes of policy formulation, programmes/projects designs and implementation in many ministries, departments and agencies of federal Government at different times.

Mustapha Akaje, FCS received letters of commendation and awards from the Federal Inland Revenue Service as the most outstanding performing staff of the Technical Department in 2020 and the most outstanding performing Participant of Policy, Leadership and Strategy Course (PLS) 42 in 2021 from the prestigious National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos among others.

He has been a committed member of the CIS, rendering selfless service to promote the programmes of the institute and capital market development generally in Nigeria.

To practice investment and stockbroking in Nigeria, you need to be a CIS Associate or Fellow.

Get your CIS Certification today.