FTC at 50: SEC, NGX, ASHON commend enduring role in capital market growth

Stakeholders in Nigeria’s capital market ecosystem on Thursday gathered in Lagos to celebrate the 50th anniversary of Financial Trust Company (FTC), Nigeria’s first indigenous stockbroking institution, paying glowing tributes to its founder, Otunba Olufemi Ajayi, for his pioneering vision in establishing the company in 1976.

Speaking at the celebration, the director-general of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, described the anniversary as more than a corporate milestone. He noted that it was an opportunity to honour the pioneers who built enduring financial institutions under difficult circumstances.

Represented by John Briggs, the commission’s Lagos Zonal Head, Agama said the capital market evolved from modest beginnings characterised by limited capital, shallow investor confidence, and a regulatory environment that was still developing.

He noted that visionary Nigerians chose not to wait for perfect conditions, but instead invested in the idea that indigenous institutions could successfully mobilise capital, support enterprise, and drive economic development.

“Our pioneers understood that markets are not just about transactions; they are about trust, institutions, and confidence in the future. Their legacy deserves our respect, and their example should continue to inspire the next generation,” Agama stated.

Also speaking, the Chief Executive Officer of Nigerian Exchange Limited (NGX), Jude Chiemeka, represented by Abimbola Babalola, Head of Trading and Products at NGX, said the story of FTC is intertwined with the evolution of Nigeria’s capital market.

“Fifty years is not merely a corporate milestone but a testament to resilience, relevance, institutional character, and sustained contribution to national economic development,” he said.

“As Nigeria seeks to strengthen its position as a leading African investment destination, collaboration across the ecosystem will become even more important. We must work collectively to build a market that is globally competitive while remaining locally relevant.”

Similarly, Fiona Ahimie, president and chairman of the Council of the Chartered Institute of Stockbrokers (CIS), described FTC’s golden jubilee as a celebration of resilience, professionalism, innovation, and enduring impact.

According to her, the anniversary honours visionary Nigerians who built indigenous institutions at a time when confidence in local capacity was limited.

READ ALSO: NGX extends rally as investors gain N61.84bn despite banking selloff

“Today, we celebrate not only an institution but also a legacy of excellence that has contributed significantly to the growth and development of the Nigerian capital market. Your journey over the past five decades represents the triumph of indigenous enterprise, the power of professionalism, and the enduring value of integrity in financial services,” she said.

Ahimie noted that FTC played a strategic role in transforming Nigeria’s capital market from a relatively modest and underdeveloped structure in the 1970s into a more sophisticated financial ecosystem.

Also speaking, the chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe, praised FTC for successfully navigating decades of regulatory reforms, economic cycles, and institutional transitions under both military and civilian administrations.

“Through all these periods, the firm has remained resilient, compliant, and steadily progressive, continuing to strengthen its position in the capital market,” Adenagbe said, describing FTC as a worthy ambassador of the ideals and professionalism represented by ASHON.

In his opening remarks, the Group Managing Director and Chairman of FTC, Omoniyi Ajayi, attributed the company’s longevity to its unwavering commitment to integrity, prudence, and institutional continuity.

“The company endured because it was built on the principle that integrity is more valuable than expansion, and continuity more valuable than ambition unmoored from prudence,” he said.

According to him, continuity remains FTC’s greatest institutional asset.

“We are not a firm that reinvents itself every decade with new branding and disconnected leadership. We are a house with deep roots stretching back to 1976, to the first prospectus which shows my father’s vision, and to every professional who has faithfully carried this firm through every market cycle since,” Ajayi stated.

He disclosed that FTC now holds one of the broadest licence portfolios among indigenous capital market firms in Nigeria, covering stockbroking, issuing house services, fund management, trusteeship, dealership operations on the FMDQ Securities Exchange, and a growing investment banking practice through its subsidiary, FT_Nex Rubica.

He further revealed that the company has pioneered various asset classes tailored to the Nigerian market, developed offshore trading capabilities, and invested in technology platforms serving clients across Nigeria, London, and the diaspora.

“Our commitment for the next fifty years rests on four pillars: professionalism without compromise, technology and talent development, market advocacy, and knowledge transfer,” he said.

There were torrents of goodwill messages celebrating FTC’s resilience, including from the Lagos Commodities and Futures Exchange (LCFE), represented by its Executive Director, Eyowan Ani, and the Pension Fund Operators Association of Nigeria (PenOp), among others.

The landmark anniversary celebration concluded with renewed calls for stronger collaboration, institutional integrity, innovation, and sustained indigenous participation to deepen Nigeria’s capital market and position it competitively on the global stage.