Deacon Titus Soetan, President of the Institute of Chartered Accountants of Nigeria (ICAN) has urged the stockbroking community to ensure that transparency remains uppermost in their dealings, even as he reminded them of negative consequences of unethical practices .
Soetan made the admonition while on a visit with his governing council to the Nigerian Stock Exchange (NSE) during which he had the rare opportunity to sound the Exchange’s closing bell.
He urged the stock broking community to always work toward the corporate survival of the Exchange and the nation’s economy recalling that the Exchange remains a barometer to measure the strength of the nation’s economy.
“You have to ensure that the market survives through transparency, avoid market breaches and always remember that there is sanction for any form of market breach,” he said.
The ICAN President called on multinationals and other privately owned corporate organizations to take advantage of the vibrancy of the Nigerian economy and opportunities therein to list their companies on the floor of the Exchange, assuring them of diverse benefits that would accrue to them by listing on the bourse.
Mr. Oscar Onyema, CEO Nigerian Stock Exchange lauded the professional body for the visit and for upholding transparency in the discharge of accounting duties cross the country. He assured him of sustained relationship between ICAN and the NSE.
Mr. Sam Ndata, Doyen of the Stock brokers in his remark said that the two bodies, ICAN and Chartered Institute of Stockbrokers (CIS) are related professions where transparency and strict adherence to ethical practices hold sway.
Ndata said that the ICAN and Stock brokers are similar professions that collaborate in many ways to ensure the growth of the Nigerian economy through compliance with ethical professional practices.
He however assured that the Nigerian Stock Exchange is rightly positioned to fish out any form of market breach and mete out disciplinary actions as prescribed.
