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How to Become a Registered Stockbroker in Nigeria

Friend, you have decided that you want to become a registered stockbroker in Nigeria, but how do you go about it? The process is not complicated, but there are certain steps that you need to take in order to be prepared to register with the Nigerian Securities and Exchange Commission (SEC). This article will walk you through everything you need to know in order to become a registered stockbroker in Nigeria.

Step 1: Do Your Research

First and foremost, do your research on how to become a registered stockbroker in Nigeria. From all accounts, it’s not as simple as taking an exam. In fact, you have to have many years of experience before being eligible for registration. But if that’s what you want, get started by studying up and learning everything you can about investment policies, global markets and other trends related to stock broker regulations in Nigeria.

Step 2: Educational Qualifications for a Registered Stockbroker In Nigeria.

When you are ready to turn your new-found interest into a career, it’s time to get some educational qualifications in stockbroking under your belt. In most countries, stockbrokers need at least an undergraduate degree and possibly also a master’s degree or MBA. To become registered stockbroker in Nigeria, they will also have to pass exams and gain experience through an internship or apprenticeship program. The process can take anywhere from one year to five years, depending on how quickly you want to be licensed. Once that is done, however, there are no further formal requirements; just keep learning and growing as a trader!

Step 3: CIS Professional certification exams for Stockbrokers in Nigeria.

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Becoming a registered stockbroker is not an easy process, but it doesn’t have to be arduous either. You will need to be certified by the Chartered Institute of  Stockbrokers (CIS) before you can officially begin brokering for others in Nigeria, which is why we suggest that you start as soon as possible to get registered as a stockbroker in Nigeria. This way, you won’t have to worry about rushing through any of your steps or taking shortcuts. The following are some of the most important registration and certifications you will need from the Nigeria Chartered Institute of  Stockbrokers (CIS)  The Chartered Institute of  Stockbrokers (CIS) has taken great strides to ensure that its regulations are up-to-date with global standards.

As I earlier said, to become a registered stockbroker in Nigeria, you must obtain a CIS certification first. To do so, you must pass a series of exams designed to test your knowledge of basic accounting principles and financial markets. After passing these exams, you will receive an interim certificate that allows you to work as a stockbroker while waiting for your final certificate.

CIS Professional Examination for Stockbrokers In Nigeria

The Professional Examination for Stockbrokers In Nigeria Programme is specifically designed for individuals aspiring to cut a niche in the Securities and Investment world. The Professional examination is a tightly scheduled and highly structured, student-centred programme that aims at developing the participant’s a thorough insight into both the conceptual basis as well as the practical skills involved in the financial industry. The curriculum is coined based on feedback received from some of the best programmes available and aims to enrich and sharpen the financial skills of participants, to keep them abreast with the latest in the world of the capital markets and to help them appreciate and understand better the recent innovations in the discipline.

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To be awarded the Chartered Stockbroker, candidates must pass the two levels of professional examinations. It is conducted twice in a year in the last Tuesday and Wednesday of the month of March and September.

The arrays of courses cover financial analysis, portfolio management, regulations, etc which are readily available in the syllabus. Examined are essential practical skills and knowledge required for professionals working in securities and investment markets common in all countries. Get more information on how to get register as a member and stockbroker with the Nigeria Chartered Institute of  Stockbrokers (CIS).

Step 4: Getting Experience As a Registered Stockbroker In Nigeria

If you want to become a registered stockbroker in Nigeria, you have to apply for relevant experience in a bank, stockbroking firms and other financial institutions that accept on-the-job trainings. All these finance companies require an initial interview by Human Resource managers before they can screen applicants. Once accepted into their training program, new recruits will be assigned to seasoned brokers who will mentor them until they’re ready to begin trading on their own. The required period for training varies from one company to another but is usually between six months and two years. You must pass a series of exams and assessments during your training period before you can qualify as a fully fledged stock broker.

Step 5: Starting Out as an Associate Stockbroker In Nigeria

This is your first step into becoming a registered stockbroker. The training program will be short and intense, but you will learn everything you need to know to begin trading on your own. After completing it, you will become an associate broker, which means that while you can trade on your own.

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Step 6 : The Function of a Registered Stockbroker in Nigeria

There are several functions of registered stockbrokers in Nigeria that may vary from individual to individual, depending on their specific role and job description. These functions include

1. Acting as an intermediary between buyers and sellers for securities listed on Nigerian Stock Exchange (NSE).

2. Providing research reports about companies listed on NSE for clients who wish to invest in these companies’ stocks or have already invested in them.

3. Maintaining records of all transactions done by them including stocks sales, purchases, loans etc

4. Giving advice about securities trading

5. Undertaking activities such as underwriting new issues of securities

6. Assisting in establishing market prices for securities

7. Assisting with corporate actions

8. Advising on corporate restructuring

9. Advising on mergers and acquisitions

10. Advising on rights issues

11. Advising on tender offers

12. Advising on capital structure

13. Monitoring market developments

14. Representing clients at meetings with company management

15. Representing clients at board meetings.

16. Performing other roles delegated by authorized persons of firms they work for (such as brokers)

17. Managing client accounts

18. Supervising trainee stockbrokers

19 . Conducting business transactions independently without supervision

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