Registrars are indispensable partners in market’s modernisation and long-term stability, writes SOLA ONI
During a brainstorming session organised by Central Securities Clearing System (CSCS) Plc ahead of the launch of its T+1 Settlement Cycle, I listened to a brilliant and passionate defence of the role of registrars by the President of the Institute of Capital Market Registrars (ICMR), Dr Catherine Nwosu. Her presentation strategically highlighted their enduring importance in Nigeria’s evolving capital market. Given how often their contributions are overlooked, her intervention was both timely and necessary.
Originally established in 2004 as the Association of Capital Market Registrars, the organisation has grown into the Institute of Capital Market Registrars (ICMR). Its development owes much to pioneers such as Mrs Lola Oyebadejo, a retired banker and Dr Bayo Olugbemi, former President of Chartered Institute of Bankers of Nigeria (CIBN) and a Fellow of Chartered Institute of Stockbrokers (CIS). The duo was the Institute’s first and second Presidents respectively. Their visionary leadership laid the foundation for the strong professional institution that exists today.
My decision to join the Institute nearly two decades ago was driven by a deep appreciation of the value registrars bring to capital market operations. That appreciation was further strengthened through our Investor Education Programme during my time at The Nigerian Stock Exchange, now NGX. Registrars serve as custodians of investor information and have long been critical to market efficiency, though their role is often misunderstood. Even as technology transformed the market, some observers mistakenly assumed that registrars were becoming less relevant.
