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A Four-Day Intensive Trainingininin

SELECTED COURSE TRAINERS

Dr. Oluwatobi Oyefeso Oluwatobi Oyefeso is currently the Group Chief Executive Officer of the Covetable Group Limited with Subsidiaries including Morewits Financial Market Institute (MFMI) and Morewits Consulting Limited. Previously, for over five years till April 2013, he was the pioneer Managing Director of the Nigerian Capital Market Institute (NCMI), a Subsidiary of the Securities and Exchange Commission (SEC). Prior to his appointment at the SEC, he had varied professional experiences spanning thirteen years in the United Kingdom working as Senior Management Accountant, Financial Operations Manager, Consultant and Trainer in the City of London, as well as, being a Senior Lecturer at the Bristol Business School of the University of the West of England and Thames Valley University London (Now University of West London).

Oluwatobi Oyefeso has impeccable experience and skills training and consulting for the private sector, public sector and the third-way sector such as the Cooperative Societies. He has practical expertise in Risk Management, Corporate Governance, Corporate Strategic Planning and Policy Formulation, Management Soft Skills, Capital Markets, Money Markets, Insurance Market Risk Management, Financial Modelling with Visual Basic and Microsoft Excel, Financial and Macroeconomic Policy Formulation and Management, Financial Mathematics and Econometrics Modelling.

Oluwatobi Oyefeso holds a BA Hons degree in Accounting and Economics from the Polytechnic of North London, an MSc degree in Business Finance from the Brunel University London and a PhD degree in Finance from the University of Aberdeen Business School in Aberdeen, Scotland. Oluwatobi Oyefeso has

been a member of the Nigeria’s Sovereign Wealth Fund Committee and the Vision 20: 2020 (Financial Services Sector).

Daisy EkinehDaisy Ekineh has extensive cognate experience in Management Skills, Corporate Governance, Corporate Strategic Management and Policy Formulation. She is currently the Chief Executive Officer of the DSE Advisory Services Limited, thoroughbred consulting firm in Nigeria. Previously, she held the position of the Chief Operating Officer at the Global Mandate Consulting Limited. She was the former Commissioner in charge of Operations at the Securities and Exchange Commission, Nigeria (2008-2012) and the Acting Director-General from May 2009 to January, 2010. She acquired over 30 years of capital market experience.

Prior to her elevation to Commissioner, she was Director of Securities and Investment Services. Also, she was for many years Head of Research Department. Daisy has served in several committees. She also played a major role in designing the capital market and regulation strategy of the Financial Sector Strategy FSS 2020. She was onetime chair of the African and Middle East Regional Committee of the International Association of Securities Commission (IOSCO).

Currently, she is on the boards of several companies in the Nigeria including the FMDQ OTC Stock Exchange, Global Mandate Consulting and Greenwich Trustees. Daisy Ekineh holds a Bachelor of Arts degree in Economics and a Master of Arts degree in Development Studies from Ohio University.

FEES:N200,000.00: Covering tuition, course materials, bag and refreshments.ANAN SUBSIDISES 50% AND MEMBERS PAY ONLY 50% ( 00,000.00) OF THE TOTAL FEES N1ABOVE.

ATTENDANCE:Recommended for all the ANAN’s members.

MODE OF PAYMENT:Payment should be made to:Morewits Financial Market Institute.

INCIDENTAL EXPENSES: MFMI is NOT responsible for the airfare or other travel costs incurred by delegates. Delegates will be

responsible for their own accommodation.

REGISTRATION:

Advance Registration Is Required

CANCELLATION POLICY:All registrations are binding. Cancellations or deferrals must be submitted in writing (letter or fax)not less than 2 days to the start of the program. A refund less 10% administration charges will be given for cancellations received up to 2 working days before the commencement date.

COURSE FORMAT:The course will be delivered in series of lectures, case studies and practical workshop sessions involving calculations and computer modelling.

FUNDAMENTALS OF THE CAPITAL MARKET FUNDAMENTALS OF THE CAPITAL MARKET Deepening the Understanding and Deepening the Understanding and Participation in the Capital Market Participation in the Capital Market

FUNDAMENTALS OF THE CAPITAL MARKET Deepening the Understanding and Participation in the Capital Market

FOR MORE ENQUIRIES CONTACT:

The Registrar/Chief Executive, ANAN.Email: ekune@anan.org.ng

OR

Group CEO, Morewits Financial Market Institute.Email: oluwatobi.oyefeso@morewitsinstitute.com

FIRST BATCH DATE:

VENUE:

6th - 9th Feb 2017

Lagos

... Significant Course At Insignificant Cost

Design + Print @ . Tel: 07038885757Morewits Techprints Limited

FINANCIAL MARKET INSTITUTEMOREWITS

RC 893790

RC 906144

FOR THE MEMBERS OF THE ASSOCIATION OF THE NATIONAL ACCOUNTANTS OF NIGERIA (ANAN)

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COURSE OVERVIEW:

The need for enhanced understanding of the mechanics of the capital markets cannot be over-emphasised irrespective of the state of the market. Consequently, it is important for the capital market stakeholders and all other economic consumers to keep abreast with the mechanics of operations, processes and instruments of the capital market. In particular, for the purpose of the future active participation as the Securities & Exchange Commission-registered capital market practitioners; professionals in the financial market need the understanding of the contemporary requirements and procedures for obtaining the SEC registration and/or renewal. Appropriately, this course is packaged to equip the participants with the relevant and current knowledge and skills of the capital market operations, processes and instruments; as well as the SEC-registration and renewal procedures.

TARGET PARTICIPANTS:

This training programme is specifically designed for the members of the Association of the National Accountants of Nigeria (ANAN) for deepening their understanding of the capital market operations, processes and instruments. Further, to enhance the members’ active participation as investors or/and statutorily registered operators in the capital market.

Generally, the course will be beneficial to all ANAN’s members with different backgrounds like economics, academics, law, engineering etc.

ACQUIRABLE SKILLS:

This practical training in Fundamentals of the Capital Market will equip the participants with the following skills::♦Understanding the features, structure,

instruments operators and investors of the financial market.

♦Understanding the meaning, functions, operators, investors, instruments of the capital market.

♦Understanding the meaning, features, benefits

and shortcomings of issuing equities and bonds. ♦Understanding the workings of the primary and

secondary segments of the capital market.♦Understanding the structure, packaging and risks

of both the sovereign and sub-national bonds.♦Understanding the pricing and valuation of the

fixed income securities.♦Gaining good understanding of the workings of the

capital markets.♦Acquiring practical knowledge of registering with

the SEC as capital market accountants.♦Understanding the statutory regulation and

registration requirements.

COURSE CONTENTS:

Introduction to the Capital Market: ►Meaning and Classifications of Capital Market►Structure of Capital Market►Equity Market Indicators►Capital Market Participants and their Functions►Methods of Accessing the Capital Market►Main Instruments in the Capital Market►Capital Market Regulators►Operators and InvestorsCapital Market and Equities:►Meaning of Equities and Equities’ Values►Acquiring Company’s Shares►Features of Equity►Types of Equities►Benefits of Investing in Equities►Risks of investing in Equities.Equity Primary Market and Public Offering of Securities:►Meaning of Primary Market►What is a Public Offering?►Sources of Public Offering►What Securities Can Be Registered With SEC?►Public Offering Process►Differentiating Between Securities Issued By

Public and Private Companies►Parties To Public Offerings►Nigerian Stock Exchange Listing Requirements►Accessing the Capital Market: Underwriting,

Rights Issues and Private Placement►Packaging Equities in the Primary Market: IPO

and Rights Issue

Equity Secondary Market: ►Meaning of Secondary Market►Workings of the Secondary Market ►Regulatory Requirements.►Market and Non-Market Drivers of PriceFundamentals of Bonds:►Bonds as Fixed-Income Securities►Meaning of Fixed-Income Securities►General Features of Bonds and FGN

Sovereign Bond►Terminologies of Bonds►Differences between Bonds and Equities►Types of bonds by Issuer►Types of bonds by Payout.Other Features of Bonds►Credit Rating of Bond►Risks of Investing in Bond►Market and Non-Market Drivers of Bond

Price FGN Sovereign Bond and Sub-National Bonds:►Structure of Fixed Income Market (FGN

Sovereign Bond)►Bond Market Structure: FGN, DMO, PDMMs ►What is Sub-National Bond?►Categories of Sub-National Bonds►Structure of Typical Sub-National Bond ►Structuring and Packaging Sub-National &

Corporate Bond IssuesBond Market Regulation and Primary Dealer Market Maker:►Rules, Roles/Responsibilities and Incentives►Qualities of the PDMMs and Why?.►How many PDMMs and Who They Are?►Reading the Nigerian Bond Auction Results

and Generic Bond Trading Table Introduction to Mergers, Acquisitions & Takeovers:►Meanings, Types and Mechanics►Tender offers, MBO and LBO.►Valuation Techniques. Participants practising

corporate valuations

Basics of Mutual Funds & Exchange-Traded Funds:►Types of Collective Investment Scheme (CIS)►Meanings of Mutual Funds and ETFs►Characteristics of ETFs, ETF Creation and

Redemption, Launching an ETF►ETF Pricing and Calculations: NAVs and

iNVAs

Introduction to Derivatives:►What are Derivatives or Derivatives Contracts?►Types or Variations of Derivatives►Uses of Derivatives►Trading and Settlement►Common Underlying Instruments►Futures & Forwards Compared, Forwards and

Futures Differences►Descriptions of Forward Contracts (or Forwards)

and Calculation Example►Options, Practical Use of Equity Options.

Institutional Framework of the Nigerian Capital Market: ►Introduction►Categories of Institutions in the Capital Market The Regulators: IOSCO - Objectives and Principles of Securities

Regulation Securities and Exchange Commission (SEC)►Salient Responsibilities of the SEC►Capital Market Institutions (Participants)

Introduction to Pricing of Treasury Bill and Bonds on MS Excel:►Overview of Treasury Bills: Meaning, Issuance, Quotation, Tenor and Trading.►Treasury Bills Fundamentals: Holding Period Yield, Treasury Bills

Derivatives and Nigerian Inter-Bank Treasury Bills True Yields Fixing (NITTY).

►Yield Calculation for Treasury Bills►Techniques of Pricing Treasury Bills: Discount

Yield Method and Investment Yield Method using MS Excel.

►Analysis of the Pricing Techniques.►Valuation of Bond’s Fundamentals on MS Excel:

Present Value and Future Value Models, Current Price, Years-To-Maturity, Coupons Per Year, Coupon Rate, Current Rate, Face Value, Yield-To-Maturity (YtM), Fair Value etc.

Statutory Regulation, Registration and Dispute Resolution Framework:►Securities and Exchange Commission: Rules and

Regulations►Compliance and Enforcement of Securities Laws►Registrat ion and Renewal Rules and

Requirements►Investment and Securities Act (ISA) 2007