Kemi Ajumobi 
Fiona Nyako Ahmed Ahimie, FCS, is the 14th president and first female chairman of the Chartered Institute of Stockbrokers, since over 30 years of the institute’s existence. She is an accomplished finance, real estate and sustainability professional with over a decade of top management experience spanning accounting, corporate finance, asset and portfolio management, securities analysis and trading, investment analysis and business development. She is widely respected for her strategic leadership, strong institutional relationships, and remarkable contributions to the Nigerian financial services industry.
She has worked on mergers and acquisitions, business restructuring and capital raising initiatives, while also serving on boards and board committees in various capacities including Chairman of Audit, Enterprise Risk Management, Compliance, Governance & Nomination, and Investment & Strategy Committees across different sectors including banking, private equity, real estate, market infrastructure, logistics and not-for-profit organisations.
Fiona Ahimie currently serves as the Managing Director of First Securities Brokers Limited (formerly FBNQuest Securities Limited), a subsidiary of First HoldCo and a Trading License Holder of the Nigerian Exchange Limited (NGX), where she is responsible for driving organisational strategy, process automation, investment portfolio management, business development, planning and change management. Under her leadership, the organisation has strengthened its market position and offerings, enhanced operational efficiency and expanded deal flow and its client base. In her role, she has led in closing major landmark transactions in the Nigerian Capital market
Prior to her current role, Fiona served as Head, Equities Brokerage at First Securities Brokers between 2016 and 2018, where she successfully built a vibrant equities desk, managed international and domestic institutional deal flows and helped position the firm as a top-performing brokerage house on the Nigerian Exchange.
Earlier in her career, she served as Managing Director/Chief Executive Officer of African Alliance Stockbrokers Limited, a Pan African investment management firm between 2015 and 2016, where she oversaw general management of the Lagos office, improved service delivery, expanded institutional client base and grew trading market share.
She also served as Head, Sales Trading and Equity Sales at FBN Capital between 2014 and 2015, where she played a key role in expanding deal flows between international and local investors in the Nigerian capital market, while managing institutional client relationships.
Also, she previously worked as Deputy Head, Sales Trading at Stanbic IBTC Stockbrokers between 2010 and 2013, where she built strong relationships with foreign institutional investors and contributed to portfolio growth and investment strategy execution.
Her earlier professional experience includes roles as Senior Analyst and Deputy Head, Asset Management Department at Lead Capital between 2008 and 2010, and Financial Control Officer/ Treasury Manager/Investment Manager at Axial Ventures Limited between 2006 and 2008, where she developed practical experience in financial accounting and expertise in investment analysis, treasury management, portfolio management and financial advisory services.
Fiona Nyako Ahmed Ahimie was born into the Abba Ahmed’s family of Wudil Local Government Area of Kano State. A mother, mentor, confidant, wife and leader, Fiona has forged an inspiring path in the Nigerian financial services industry through resilience, determination
She holds a Bachelor of Science Degree in Accounting from Lagos State University. She further obtained a Master of Business Administration (MBA) from the Lagos Business School, Pan-Atlantic University. In her quest for continuous learning and professional development, she also attended the Pan African Executive MBA module at IESE Business School, Barcelona, Spain.
She has also received executive training from prestigious global institutions including MIT Sloan School of Management, USA, IESE Business School, Spain and INSEAD Business School, France, among others.
Fiona is currently a Doctoral Degree Student at Afe Babalola Business School, further demonstrating her commitment to academic excellence and leadership development.
Fiona Ahimie is happily married to Ojekhoa Ahimie and the marriage is blessed with Four lovely children. She is a devoted wife, mother and mentor who balances professional excellence with family life.
Inspiration to pursue a career spanning finance, real estate, and sustainability.
I grew up understanding that community is everything. Our home was open to all and in those interactions, I met people who really did need help but had nothing or anyone to fall back on. This reality shaped my perspectives on life. I didn’t have anyone telling me what success should look like or how to achieve it, but I knew I wanted to grow up and be in a position to be independent, to take care of my needs and have enough to be able to help others in my society. So, for me, all I did was push for education and as I advanced in self development, I stumbled into the world of finance. My secondary school education was in the sciences, but as we got to the final year for WAEC and had to do the laboratory practicals, I discovered that the part of medicine which I was interested in would require operating and here I was, not able to dissect a rat for the practicals and clearly, mingling with blood wasn’t for me. So I quickly switched to accounting after my WAEC examination. It is important to know your strengths and not jump on the bandwagon. I went into sciences back then because, as one of the top students, we all felt we should automatically be science students, but I made the quick change when I noticed that path wasn’t for me. The world of accounting looked interesting as I was delving into it for the first time and during my internship year at the local airport, Ikeja, after secondary school. I learnt of the Institute of Chartered Accountants from a friend and senior colleague and thus made the move and enrolled for their technician programme, which was targeted for secondary school graduates, creating my gateway into the finance world. Real estate and sustainability came into play as I advanced in my finance career, and I found the blend very necessary for my career balance.
Leadership philosophy and how it has evolved over the years
My leadership philosophy has always been inclusive, empathetic, and very goal-oriented. Growing up, academic competition was dogged and thus top position was actively contested amongst us all, leading to a healthy and inclusive drive to achieve top position with little or no differential. Hence I learnt early in life that competition is good and important, but collaboration was the ultimate answer to sustainability. I want everyone around me to win, so I push people to punch higher though. Sometimes, it’s perceived negatively, ultimately it brings out a win situation. I have had people tell me that I can’t expect everyone to operate at my level or be like me and that I need to cut people some slack. However, from childhood, I have always wanted to be independent and help others be independent as well, so that shapes my leadership style. I am learning to let people grow at their own pace while I continue to encourage them to be better versions of themselves because I have learnt in life that just being average at what you do won’t take you far.
Experiences that most significantly shaped your approach to governance and strategic decision-making
In my career, I have seen companies crumble and men and women who have attained great heights in their careers and in society slide down the ladder very quickly because of poor decision-making or breaches of good governance. I have also studied and seen people who no one expected to win making a phenomenal impact just by sticking to the right governance structure and decision making. Learning from these experiences has helped me to embrace governance and do it right as well as learning how and how not to make strategic decisions. I am better poised not to be influenced by emotions or a need to be seen as strong, to be critical and to evaluate situations properly, to ensure I do not miss the mark. There is a very thin line between doing things right and playing to the gallery.
Staying connected to industry developments and your view on regulatory changes affecting Nigeria’s capital markets
The capital market is the barometer of the economy. Economies that have continued to progress have all done so through the capital market. Governments, corporates, large or small, have scaled and financed landmark projects relying on the capital markets. This is a very dynamic space, and products are becoming more sophisticated by the day. Technology is reshaping how things are done, and global integration is driving expansion. It is important to continually upscale knowledge, imbibe risk management practices to limit exposures and need to be properly capitalised to take advantage of the opportunities while minimising risks. Recent regulatory changes are in line and welcome, as they help shape and direct activities in this very sensitive sector. Market infrastructures and operators need to be agile, responsible and fit for purpose, and investors and participants need to be given the best suitable options and protected.
Being 14th and first female President and Chairman of Council, Chartered Institute of Stockbrokers
The capital market is a very male-dominated segment of the financial ecosystem. Women were not even allowed to participate in writing the exams that would qualify them to be practitioners, not until 1983 when Prof. Ndi Okereke-Onyiuke broke that barrier for women in the capital market. So, assuming the position as the first female to hold the office of the Presidency of the CIS marks a full cycle of women’s integration into the capital market. While basking in the euphoria of this historic feat, I am not losing sight of my responsibility and the expectations for the role. The Chartered Institute of Stockbrokers was established by Act 105 of the Federal Government and back in the day, the stockbrokers operated across all the verticals in the capital market, ranging from investment banking, registrar, advisory, trading in securities, investment management, and so on, but as the markets developed and expanded, professionals embraced specialisation and developed trade groups making up the participants in the market. I am looking forward to increasing the knowledge footprint of the capital market across Nigeria and the rest of Africa, and reinforcing the relevance of the capital market and its professionals in the development of our continent as well as how we can integrate our markets with a broader goal of integrating with the world.
Importance of the institute adapting to rapid technological changes while preserving core ethical principles
Technology, AI and data analytics are here to stay. As an organisation that works with many people, training, data and integrating technology into our operations is essential. It is the next phase of our strategic plan and the first 3 months of my administration will be geared to addressing our tech requirements.
Institute’s role in improving investor education and financial literacy
The institute has always played a central role in advancing investor education and financial literacy, but there is a need to further refine and modernise our approach. We have recently been appointed as one of the institutes collaborating with the Federal Government to bridge the financial literacy gap for ten million Nigerians, and we intend to work closely with capital market operators to leverage this opportunity and make a meaningful impact.
In addition, we have developed a certification programme targeted at secondary school graduates and university undergraduates to promote inclusion and diversity, alongside ongoing outreach initiatives across primary, secondary, and tertiary institutions. We also organise targeted engagements for policymakers, recognising that when financial literacy is embraced at the leadership level, it becomes easier to drive policies that positively affect the broader population.
Furthermore, the institute operates an academy that offers a wide range of corporate learning solutions designed to support individuals in starting or transitioning into new careers. These include short-term training programmes, certification preparation, and career readiness initiatives, all aimed at building capacity and strengthening financial literacy across different segments of society.
Ethical challenges most pressing for brokers today, and how the institute addresses them
The market is not as porous as it used to be in the 2000s. There is a whole lot of regulation and information available everywhere. Market operators are expected to uphold higher professional standards and continuously upskill in line with evolving economic conditions, product sophistication, and investor expectations.
The institute addresses these challenges by consistently updating its curriculum and expanding areas of specialisation to ensure that professionals provide informed, unbiased advice and do not mislead market stakeholders. This helps reduce the risk of stereotyping in advisory roles and promotes a more disciplined and knowledgeable professional base.
In addition, the Institute plays a regulatory role by overseeing the activities of its members and addressing matters connected therewith. It is empowered to investigate and discipline erring members, and in recent years, has delisted some individuals found to be in breach of professional standards.
To strengthen accountability, the institute has an established formal investigating and disciplinary mechanism in line with section 10 of the Act. These include the investigating panel and the disciplinary tribunal of the institute, both of which are vested with the authority to handle cases of professional misconduct. The panel or the tribunal may, at its discretion, determine whether to take action in any given case, ensuring due process while maintaining the integrity of the profession
Being MD/CEO of First Securities Brokers Limited and responsibilities
First Securities Brokers Limited, formally FBNQuest Securities, is the stockbroking arm of the FirstHoldco Group. My role involves developing and guiding the group’s strategic focus to drive sustainable growth in the business. For any business to thrive sustainably, there should be proper structures, a risk management framework and good governance in place. At First Securities Brokers, we do not compromise on these. We have built an office environment where members of staff are respected, included, heard, trained and decently compensated, encouraging everyone to play their role. Our strategic objective is to lead in our industry across all parameters by 2029, and as a team, we are poised to make that happen.
What stands your organisation out from others?
As a subsidiary of one of Africa’s largest and most trusted financial services groups, with an extensive network across sub-Saharan Africa, we have built a reliable and agile brand positioned to serve and scale across multiple geographies. Leveraging our diverse group structure, we provide access to capital market solutions for a range of clients and increase awareness and participation in the market through our network. This makes us a strong choice for landmark market-making transactions shaping today’s capital markets.
You held roles across accounting, corporate finance, asset/portfolio management, and more. Which single achievement in this broad scope most defined your career?
My ability to be versatile and put my all into each role, defined success and growth in my career. For me, wherever I worked, I put my all in it, as if it were my father’s company. I don’t believe in mediocrity or only doing the minimum, the day I sign that offer letter, I commit to making the business mine, so I do everything I can to succeed. I have been blessed with employers who appreciate and value this quality and I tell myself that if I can do this for someone else, I can succeed at mine.
Landmark transaction you led at First Securities Brokers Limited and the key factors that contributed to its success
At First Securities, we have taken on many landmark deals, but the one that stands out for me is the MTN offer and what defined it was the role technology played. With the reach we have as a business across continents, geographies, and branches leveraging our First Holdco group structure, we were able to expand our reach across the nation and beyond, thereby creating many new investors.
Market opportunities most excited about in Nigeria’s capital markets, and how is your firm positioned to capitalise on them?
The market is expanding. The digital asset space and African integration are budding, and we are keen to play major roles as First Securities Brokers Limited. The increasing importance of sustainability also opens new opportunities for impact investing, which we are observing as a potential area for us to explore.
Since you assumed the role of Managing Director, what has been your top strategic priority for the firm and has helped till date?
My top three priorities have always been an empowered workforce, profitability and market dominance. I have invested in training and expanding my team, enabling us to significantly improve our financial performance and market positioning. We will continue to consolidate on this to achieve our goal of being the top stockbroker in Nigeria.
To every top female executive, what would you want to say to them?
You are enough, and your aspirations are valid. Continue to upscale, be diligent and learn to ask for the next level.
Concluding words
Life is not a sprint but a journey, live each day like it’s a destination reached. Love truly, enjoy the moments and look after your physical and mental health and always remember the lroverb, ‘Show me a man diligent in his ways and he will sit among kings’. Support others genuinely. God has a plan for us all, we need to work with him to achieve it. Thank you Kemi! Thank you IWA!