Chinwendu Obienyi and Uche Henry
Following the political storms stunting Nigeria’s economic growth and development, the President and Chairman of Chartered Institute of Stockbrokers (CIS), Adedapo Adekoje, has affirmed the Institute’s commitment to rescue the country.
Speaking at the Institute’s 22nd Annual conference in Lagos yesterday, Adekoje maintained that the institute, in synergy with other capital market players, is poised to do everything possible to revamp the economy from socio-economic woes.
He stressed that Nigeria has suffered untold hardship over the years due to misplaced priority and misdirect energy by the political class,howbeit players in the capital market are working round the clock to bring smiles to the faces of Nigerians by placing the country on the upward growth trajectory, having experienced recession in the recent past.
Adekoje asserted that Nigerians need not to experience undue pains again due to political storms disrupting the economic growth and development. Therefore, the institute is focusing on the aftermath of post election situation in the country.
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He also urged the government at all levels to ensure that the economic environment does not suffer divestment nor capital loss, saying that a country thrive only in an atmosphere where investors and stock brokers do businesses in conducive environment.
“The political terrain must not deter the well-being and welfare of the citizenry, thus; the government must as matter of urgency take more steps to give the economy improvement.” The CIS president stated.
Speaking on the theme; The Nigerian Economy and the Capital Market; Exploring the next Frontiers for Growth, the Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema, who was represented by Executive Director, Tinuade Awe, said the NSE is on top of its job in ensuring that Nigeria does not relapse into recession as the country approaches the 2019 general elections.
“We are devising strategies and modalities with all stakeholders to ensure the capital market remain the engine of our economy, and we implore capital market players to educate investors accordingly to avert undue loss, instead, return on investment as well as economic growth and development for the country should be the driving Force” she posited.
Awe reiterated the institute’s unwavering support and commitment to work assiduously with other sister agencies to ensure the capital Market operators are enjoy hitch-free business environment.
In a statement, Acting Director- General Securities and Exchange Commission (SEC), Mary Uduk, said that the commission’s doggedness to ensure that the potentialities of the market are optimally harnessed, adding that the commission has devised a model to ensure the introduction of new instruments in the capital market.
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“In view of the capital Market’s ten years master plan as a blueprint for re-jigging the market for the positive change, the commission has over the last three years implemented so many programs like the direct cash system, improved savings culture(National savings bond), digital and electronic Marketing management system among others.”, she said.
Uduk assured Nigerian investors that the Nigerian Capital Market being the catalyst for economic growth and development, will not lose its foresight on the enhancing economy in spite the all odds, adding that players should build networks with counterparts across the globe to earn competitive know-how and other opportunities.