A frontline economist, stockbroker, capital market operator and investment expert, Mr. Albert Okumagba, is dead. He was 56.
The Delta State-born financial expert was the Group Managing Director of BGL Group, a leading investment banking and financial services group. However, Okumagba was suspended from operating in the capital by the Securities and Exchange Commission on May 20, 2015 when the commission found BGL guilty of complaints made by various investors.
SEC directed that “BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited be suspended from all capital market activities, all Sponsored Individuals of BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited whose particulars are contained in the commission’s record as at December 2014 be suspended from performing any capital market activity.”
Okumagba was President of Chartered Institute of Stockbrokers between 2014 and 2015. The CIS is a not-for-profit professional institute providing training for professionals in stockbroking, securities and investment, fund and portfolio management, asset management, investment management, and other related fields.