Stakeholders in Nigeria’s capital market ecosystem on Thursday gathered in Lagos to celebrate the 50th anniversary of the Financial Trust Company, Nigeria’s first indigenous stockbroking institution. The event featured glowing tributes to the firm’s founder, Otunba Olufemi Ajayi, for his pioneering vision in establishing the company in 1976.
Speaking at the golden jubilee celebration, the Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, described the anniversary as more than a corporate milestone, noting it was an opportunity to honour pioneers who built enduring financial institutions under difficult circumstances. Represented by the Commission’s Lagos Zonal Head, John Briggs, Agama said Nigeria’s capital market evolved from modest beginnings characterised by limited capital, shallow investor confidence, and a developing regulatory environment.
According to him, 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, Jude Chiemeka, represented by the Head of Trading and Products at NGX, Abimbola Babalola, said the story of FTC was deeply 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.
Similarly, the President and Chairman of the Council of the Chartered Institute of Stockbrokers, Fiona Ahimie, described FTC’s golden jubilee as a celebration of professionalism and innovation, noting that the anniversary honoured visionary Nigerians who built indigenous institutions at a time when confidence in local capacity was limited.
The Chairman of the Association of Securities Dealing Houses of Nigeria, Sehinde Adenagbe, praised FTC for navigating decades of regulatory reforms and economic cycles under both military and civilian administrations.
“Through all these periods, the firm has remained resilient, compliant, and steadily progressive,” Adenagbe said.
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 and prudence: “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.”
Ajayi disclosed that FTC now holds one of the broadest licence portfolios among indigenous firms, covering stockbroking, fund management, and investment banking through its subsidiary, FT Nex Rubica. The landmark anniversary concluded with renewed calls for stronger collaboration and innovation to deepen Nigeria’s capital market and position it competitively on the global stage.
