Governance & Structure

History and Overview

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 the 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 recognised both in and outside Nigeria as a professional business qualification. Under the enabling legislation, its mandate includes the following responsibilities:

(a) 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;

(b) 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

(c) 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 co-ordinators in four locations namely: Abuja, Ibadan, Kano and Port-Harcourt.

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:
i. Finance
ii. Education and
iii. Women Affairs and Youth Development

9. Past Presidents of the Institute (to serve for a maximum period of three years from the expiration of their terms of office as President)

List of Council Members

1Mr. A. D. Adekoje, FCS    President/Chairman of Council
2Mr. O. M. Amolegbe, FCS 1st Vice President
3Mr. O. O. Adeosun, FCS  2nd Vice President
4Mr. A. D. Ajadi, ACS   Registrar/Chief Executive & Secretary of Council
5Mr. O. E. Abe, FCSImmediate Past President
6Mr. N. Nwonye, FCS 
7 Mr. A. Oyewale, FCS 
8Mr. O. Oyeniyi, FCS 
9Mr. O. S. Dada, FCS 
10Mr. O. T. Oni, FCS 
11Mrs. N. E. Edoka, FCS 
12Mr. K. G. Kurfi,  FCS  
13Mr.  M. Garuba, FCS 
14Mr. Mr. G. I. Akinyemi, FCS 
15  Mrs. N. E. Ebi, FCS 
16Mr. B. Majiyagbe Representing Bankers’ Committee
17Dr. U. Kwairanga, FCS 
18Prof. T. O. AsaoluRepresenting Institutions of Higher Learning  
19 Mrs. L. U. Olubi, FCS 
20Mr. E. A. Balogun, FCS   
21Mr. O. Onyema, OON, ACS Representing The Nigerian Stock Exchange
22Mr.  I. B. Tilde, FCSRepresenting Securities and Exchange Commission
23Mrs. R. Bakari-GireiRepresenting Federal Ministry of Finance          
24Mr. Karaki, Adebowale Olaniyi Representing Federal Ministry Education
25Mr. A. JimohRepresenting Bankers’ Committee


Standing Committees

The Council agrees the overall Institute strategy and budget and delegates most other functions to committees and staff. Currently, the standing committees of the Council that deal with various aspects of administration issues are:

  • Education
  • Research/Technical
  • Membership
  • Board Of Fellows
  • Finance
  • Programmes
  • Investigating Panel
  • Supporting Member Investigators
  • Continuing Professional Development
  • Disciplinary Tribunal
  • Nominating
  • Presidential Nominating

Meetings of the committees are convened at regular intervals to discuss issues relevant to their terms of reference. The committees report and make recommendations to the Council. Fellow and Associate members who would like to serve on any of the committee should please contact us.

Past Presidents and Vice Presidents of the Institute

SNDatePresident1st Vice-President2nd Vice-President
1.1995 - 1997Gamaliel O. OnosodeOtunba Michael O. BalogunAbubakar A. Dalil
2.1997 - 1999Gamaliel O. OnosodeOtunba Michael O. BalogunAbubakar A. Dalil
3.1999 - 2001Gamaliel O. OnosodeProf. (Mrs) Ndi Okereke-OnyiukeOlutola O. Mobolurin (appointed 6/12/2000)
4.2001 - 2003Olutola O. MobolurinHenry T. OlayemiOladipo A. Aina
5.2003 - 2006Henry T. OlayemiOladipo A. AinaOladipo O. Williams
6.2006 - 2008Oladipo A. AinaOladipo O. WilliamsMichael A. Itegboje
7.2008 - 2010Oladipo O. WilliamsMichael A. ItegbojeMuritala A. Olushekun
8.2010 - 2012Michael A. ItegbojeMuritala A. OlushekunEmmanuel O. Ohanwusi
9.2012 - 2014Muritala A. OlushekunEmmanuel O. OhanwusiOluwaseyi E. Abe
10.2014 - 2016Albert E. OkumagbaOluwaseyi E. AbeAdedapo D. Adekoje


The Chartered Institute of Stockbrokers (CIS) is an Institute chartered by Act of parliament of the Federal Republic of Nigeria in 1992 with the responsibility of providing professional qualification for Stockbrokers and other Securities and Investment professionals.
The CIS regulates the activities of over 15,000 members (students, associates, fellows and graduates, Stock Marketing Agent, diploma, e.t.c.). The Institute also processes and manages registration of its members, examination, financial and legal information in order to achieve its objectives.


September 2018
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