First known as the Nigerian Institute of Stockbrokers, the Chartered Institute of Stockbrokers has been in existence since 1990. It was initially incorporated as a private company limited by guarantee and was later chartered in 1992 by Act 105 of the Federal Republic of Nigeria.
The Chartered Institute of Stockbrokers is a professional body chartered by Act 105 of 1992. It is the only professional body in Nigeria empowered to conduct qualifying examinations and providing professional qualifications for Stockbrokers, Securities Dealers, Financial & Investment Analysts, Portfolio & Funds Managers. The Institute also regulates the activities of its members and for matters connected therewith. The Institute’s qualification is widely recognized both in and outside Nigeria as a professional business qualification.
Under the enabling legislation, its mandate includes the following responsibilities:
- Determining what standards of knowledge and skill are to be attained by persons seeking to become chartered members of the profession and raising those standards from time to time as circumstances may permit;
- Securing in accordance with the provisions of this charter the establishment and maintenance of a register of honorary fellows, associate members, fellows, members, ordinary members and students of the profession and the publication from time of the lists of those persons; and
- Performing through the Council the functions conferred on it by the enabling legislation.
The Institute’s qualification is widely recognised both in and outside Nigeria as a professional business qualification. Members of the Institute use the designatory letters ACS and FCS for Associates and Fellows respectively.
The Institute provides a wide range of professional activities including education and training of students, continuing professional development for members, maintenance of professional and ethical standards and advice and services to members.
The strategy and policies of the Institute are determined by a Governing Council and Committees of members and volunteers. The Institute is managed on a day-to-day basis by the Registrar and Chief Executive who is assisted by other management staff.
Presently, business activities are conducted through our main office in Lagos and our coordinators in four locations namely: Abuja, Ibadan, Kano and Port-Harcourt.