CIS Awards Aig-Imoukhuede With Honorary Fellow as Coronation Group Obtains CMHC Licence

Kayode Tokede

Following his milestone achievements in the financial sector, the Chartered Institute of Stockbrokers (CIS) yesterday awarded the Chairman of Coronation Group Limited, Mr. Aigboje Aig-Imoukhuede with Honorary Fellow of the institute.

The investiture that took place on the floor of Nigerian Exchange Limited (NGX) in Lagos witnessed dignitaries from the banking sector and capital market key stakeholders.  

Aig-Imoukhuede in his acceptance speech expressed that he is deeply honoured to be recognized by the institute, stressing that collaboration among key capital market stakeholders have significantly contributed to the growth and development of Nigeria’s financial markets.

He stated that, “As partners, we have instituted practices and standards that have strengthened our markets and built trust in the minds of investors both local and foreign.

“Today I acknowledge that for many years, despite my not being one of you by qualification, you have regarded me as a member of your fraternity. This spirit of partnership collaboration must be extended by you to others, particularly the Financial Market Dealers Association and other key stakeholders in our financial markets.”

He expressed that operators of a nation’s capital market are properly resourced in terms of skill, capacity and conduct, maintaining that nothing can stop its citizens from leaving the tarmac and developing from 3rd world to 1st world.

Speaking earlier, the President & Chairman of Council, CIS, Mr. Oluwole Adeosun, said “Today, we are here gathered to celebrate an Icon of the Nigerian corporate community as ninth Honorary Fellow of the institute.

“Aig-Imoukhuede as a one of the President of the NGX was exceedingly passionate about the demutualisation of the entity when it was a non-profit known as the Nigerian Exchange Limited,” Adeosun said.

However, the Founder and Chairman, Coronation Group at the Closing Bell Ceremony hosted in his honour announced that Coronation Group Limited has obtained a Capital Market Holding Company (CMHC) licence from the Securities and Exchange Commission (SEC).

With this pioneering step, Coronation has transitioned to a licensed group structure, solidifying its position as an investment management powerhouse in the African region. This regulatory recognition represents a significant milestone in the Group’s mission to democratize access to wealth creation for Africans, harnessing the power of ecosystems.

Working in close collaboration with Founder and Chairman, the Group Managing Director and Chief Executive Officer Wole Onasanya is to oversee the strategic priorities of Coronation’s ecosystem. These priorities include building digital platforms, establishing strategic partnerships for exponential growth, and maximizing shareholder returns.

Aig-Imoukhuede, said, “This transition marks our first five years of orchestrating the Coronation Group ecosystem. We established Coronation with the objective of democratizing access to investment, lending, and insurance, empowering individuals to achieve financial independence and build enduring legacies. We are excited about the future and our role as a key driver of growth in Africa.”

 Speaking at the closing Bell ceremony, the Chief Executive Officer, NGX, Mr. Temi Popoola, said the Exchange is grateful for Aig-Imoukhuede’s exploits in the capital market and expressed confidence that the company’s CMHC’s license is another phase of growth seen in the capital market in the past few weeks.

Onasanya in a statement stated, “Our primary objective is to make wealth creation accessible to all Africans. Coronation Group is well-positioned to offer integrated financial services backed by exceptional talent, all accessible through cutting-edge technology platforms. We are dedicated to being trusted partners on our clients’ journeys to prosperity, helping them achieve outcomes that go beyond financial returns.”

Highlighting the benefits Coronation Group delivers to its clients, Aig-Imoukhuede further added, “Our culture of innovation and excellence drives us to deliver world-class experiences to our clients. By delivering transformational solutions at scale, we are strategically positioned to address several of Africa’s unique challenges.”

Pai Gamde, Chief Talent Officer of Coronation Group, affirmed the company’s commitment to strong corporate governance practices, fostering transparency, and ensuring accountability in its

operations, stating, “We are pleased to have reached this important milestone, and we remain fully committed to our responsibilities as a regulated holding company.”

This notable achievement builds upon Coronation’s impressive journey culminating in the acquisition of a CMHC licence. With $200 million of its own capital, Coronation Group stands among the most prominent privately-owned players on the continent. The company expects to deploy $500 million of its own capital in the business by 2033, further solidifying its position as an African leader.