Stockbrokers Want Nigerian Government to Raise More Capital
The Chartered Institute of Stockbrokers (CIS) has said its forthcoming conference will focus on how the government can leverage investment opportunities in the capital market to mobilise medium and long-term funds to finance the economy.
The CIS said in a statement that the conference was organised to assist the Nigerian Government in charting the right path for accelerated economic growth and development.
It said the conference would provide a veritable platform for the best minds in the financial market to dissect the current challenges facing the economy and propose concrete areas where government at all tiers could leverage opportunities for growth.
The conference is themed ‘Strategies to achieve double-digit growth for Nigeria: The capital market option’.
The statement read in part, “The CIS has always provided critical analysis of issues that can bring about market growth as the market is currently under pressure with foreign portfolio investors and their Nigerian counterparts dumping shares due to the uncertainty of the impending general elections and the panic it is causing.
“The fear is further heightened by unguarded statements of many politicians. As such, the event is believed to be part of the outcome of a recent retreat by the institute’s governing council on the way forward for Nigeria’s economy and the capital market.”
The CIS said its council had consistently asserted that stockbrokers ought to be involved in all spheres of economic issues as they played a pivotal role in the financial market.
The Registrar/Chief Executive, CIS, Mr Adedeji Ajadi, noted that matters arising from the interactive session would enhance the government’s implementation of the 2019 fiscal budget.
The President/Chairman of Governing Council, CIS, Mr Adedapo Adekoje, emphasised the need for the government to have a cordial relationship with the capital market operators in order to build investor confidence. According to him, there is a linear relationship between the growth and development of any economy and that of its capital market.