LCFE Expands Capacity Building, Inducts 33 Brokers

Lagos Commodities and Futures Exchange (LCFE) has onboarded and inducted  another 33 commodities brokers in its resolve to attract technology-savvy professionals into the market. 

The Pan African Exchange had inducted over 200 commodities brokers to date within one year of its inauguration .

The latest in the series, including the 2nd Vice President of Chartered Institute of Stockbrokers (CIS), Mrs Fiona Ahimie , were inducted at the weekend after intensive training, including exposure to different commodities asset classes. 

“LCFE has developed a strategy to enlighten and deepen the brokers’ knowledge of the commodity ecosystem and the important role they play in it. Our Commodities Brokers  represent a new age with fresh energy for the market.  The commodities ecosystem is so broad that as we expand and develop, brokers will specialise in different asset classes, “said Akin Akeredolu-Ale, LCFE’s Managing Director and Chief Executive Officer. 

A past President of CIS, Mr Mike Itegboje explained that the Exchange had since its inception established itself as a trustworthy platform. 

According to him, LCFE should keep up with the time and incorporate cryptocurrencies as an asset class in its curriculum in order to attract investors that have digital background . 

A Director of LCFE, Mr Sam Onukwue urged the inductees to develop products that will attract high net worth investors and create value for all stakeholders. He noted that The Exchange had received tremendous support from the Lagos State Government, especially in the area of patronage. 

Another Director of LCFE, Rasheed Yussuff charged the commodities brokers to work towards fostering an efficient commodities exchange .  According to him, there should be a dedicated platform for the commodities brokers to interact and exchange ideas as professionals.