9 November 2018

Nigeria: NSE, Stockbrokers Eulogise Alile At ' Closing Gong '

It was a deluge of eulogies, as capital market operators led by the Nigerian Stock Exchange (NSE), Tuesday, organised a 'Bell ring' in honour of a former Director-General of the Exchange, late Apostle, Hayford Alile.

The ceremony, which had in attendance, family member of the deceased, past and present presidents of NSE, Doyens of stockbrokers, and other market stakeholders provided an opportunity for a wider audience from corporate Nigeria to pay their last respect to a man highly reputed for his integrity in the boardroom and financial market.

Speaking on behalf of market operators, the Managing Director, Trustyield Securities, Rachidi Yusuf, describe the late Alile as a colossus advocate, who made history in the nation's capital market.

According to him, Alile contributed immensely to the stock-broking profession and the enhancement of the status of stockbrokers in Nigeria. Yusuf said: "You have been a perfect Chief Executive Officer to everyone. You singlehandedly developed the local content of the Nigerian capital market.

" Alile encouraged a number of Nigerians with requisite experience to come to the market and form their stock-broking firms. It is not an exaggeration that more than 95 per cent of today's brokerage houses have their root in Apostle Alile's long-sighted indigenisation policy, and pulled everybody together to build a capital market of his dream.

Responding on behalf of the family, Osayi Alile appreciated the NSE for their support, adding: "The Exchange has been supporting us since the demise of our daddy, and we appreciate the NSE. We thank you for extolling his virtues and remembering him with great joy."

The President, the National Council, NSE, Abimbola Ogunbanjo, had in a statement said: "Nigeria has lost one of its most patriotic and visionary corporate leaders. Apostle Alile was an outstanding authority on the stock market and its operations, and he rightfully laid a solid foundation for The Nigerian Stock Exchange. As an Exchange, we shall remain grateful to him for providing the inspiring leadership required at the formative stage of the Exchange."

The President, Association of Stockbroking Houses of Nigeria (ASHON), Patrick Ezeagu, said: "Alile has left an indelible mark, he is the number one effective Director-General of this Exchange, and had moved it from where it was until he handed over the baton. "He prepared the Exchange for a seamless and effective transition. He saw it from the manual call over a period to a technologically-driven Exchange, and you know that technology is everything and that in itself propelled it to the point where it became a trillion naira market.

"He is someone that had seen it all; even when he left the Exchange, he still mentored people, and played advisory role up till the point when he died. For me, God sent him to do this job at the Exchange and he has done it perfectly well. Forever his name will be remembered."

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