Business
Sanwo-Olu Earns Prestigious ACS Induction Honour
Sanwo-Olu ACS induction sees Lagos governor join Chartered Institute of Stockbrokers after completing rigorous certification in Nigeria’s capital market
Lagos State Governor Babajide Olusola Sanwo-Olu on Wednesday was formally inducted as an Associate of the Chartered Institute of Stockbrokers (CIS) in Lagos, earning the “ACS” designation after successfully completing the institute’s professional certification programme.
Also read: Aisha Achimugu Dismisses Sanwo-Olu Link To Her Success
Sanwo-Olu Earns ACS Professional Designation, which took place under the supervision of CIS President and Chairman of Council, Oluropo Dada, who described the certification process as one of the most rigorous in Nigeria’s financial services sector, requiring both technical proficiency and strong ethical grounding.
Dada noted that securities trading remains a highly specialised profession, stressing that practitioners must uphold strict standards of integrity and competence.
He also highlighted that the institute has produced more than 4,000 professionals operating across global financial markets.
He confirmed that the governor met all academic and professional requirements, adding that the ACS designation represents credibility, discipline and adherence to global best practice in financial services.
“By this induction, you are now entitled to the designation ‘ACS,’ a mark of credibility, expertise and adherence to the highest professional standards,” Dada said.
In his response, Governor Sanwo-Olu expressed appreciation to the institute’s leadership and facilitators, describing the programme as an opportunity to refresh his knowledge of a rapidly evolving capital market.
He commended the CIS for maintaining high ethical standards and reaffirmed his commitment to upholding the values of the profession, noting that the institute’s motto, “My Word is My Bond,” reflects principles he has long embraced from his background in banking.
Sanwo-Olu also highlighted Lagos State’s growing influence in capital market development, pointing to the state’s pioneering role in green bond issuance and plans to explore blue bonds as part of broader sustainable financing initiatives.
The ceremony was attended by senior officials of the institute, including vice presidents, council members and past presidents, alongside other stakeholders in Nigeria’s financial sector.
Also read: Sanwo-Olu’s Tough Actions, Soft Power
The induction underscores the increasing link between public leadership and professional certification in Nigeria’s evolving economic landscape.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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