As a popular maxim goes, once is happenstance, twice is coincidence and thrice is a pattern.

There seems to be an evolving but scandalous pattern in our stock market whereby some unscrupulous stockbrokers sell their clients shares without due authorization but for their own selfish gain.

Recently, the Economic and Financial Crime Commission (EFCC), published a notice declaring the Managing Director of a stock broking firm wanted over allegations of stealing N120 million shares belonging to one of his clients.

Stockbrokers by the nature of their profession, are gentlemen of integrity, highly respected and trusted world wide. But it has become very disturbing that a few of them seem determined to exploit the latent function of The Depository; a situation which if left unchecked is capable of eroding investor confidence in our market.