FTC Celebrates 50 Years of Indigenous Stockbroking in Nigeria

Financial Trust Company (FTC), established in 1973 by Otunba Olufemi Ajayi, is recognized as Nigeria's first indigenous stockbroking firm. Celebrating its 50th anniversary, the company marked a significant shift in Nigeria's financial landscape, previously dominated by expatriate firms.

FTC was licensed by the Nigerian Stock Exchange on July 8, 1977, and emerged as a trailblazer in promoting local ownership and participation in the capital market. The firm played a crucial role in the establishment of the Chartered Institute of Stockbrokers, engaging with then-President Ibrahim Babangida to advocate for the institute's charter, which was enacted as Act 105 in 1992.

FTC's efforts contributed to democratizing financial opportunities in Nigeria, encouraging local investors to participate in the stock market and challenging the perception of financial services as exclusive to foreign entities. Today, Nigeria boasts 100 indigenous stockbroking firms, a testament to FTC's pioneering influence in the sector.