Stories by Chinenye Anuforo
Stockbrokers have endorsed privatization of moribund enterprises as a way of boosting their efficiency and attracting private sector participation.
Besides, they also resolved to key into the rapid changes in technology and product innovation that are fast characterizing the global financial market in order to position themselves for enhanced professionalism .
Addressing the Capital Market Correspondents as a prelude to this year’s Annual Conference of Stockbrokers, scheduled for November 16 and 17, 2017, the Chairman, Annual Conference Committee, Mrs. Lilian Olubi explained that the Conference had been packaged to help deepen the market and expand the professional knowledge of the dealing members.
“As one of the most prestigious professional bodies in the Nigerian financial industry, we have, again, sought to elevate the all-important debate of financial market development at our Conference with the aim of charting a course forward on policy alternatives.
“This is reflected in our theme for this year’s edition titled, “Adapting to Dynamic Changes in the Financial Market”. Our choice of this year’s theme was informed by the marked rapid pace of innovations in the economy and capital markets, which require operators – both dealing members and the investing public, to keep abreast of these developments in order to make informed choices.
“As businesses seek for alternative ways to raise capital and investors look to further diversify their portfolios from traditional assets, it has become imperative to encourage innovation of financial products. For this reason, we would be discussing “Options/strategies for Deepening of our Local Market through Introduction of New Products’ such as derivatives, commodities, sukuk and alternative assets.
She said introduction of new products will help deepen the market and expand professional knowledge on diverse investments products, thus encouraging more foreign investors’ participation whilst also developing our finance professionals.
“Also, advancement of technology in finance profession has become imperative in improving investors’ experience and supporting efficiency drive of stockbrokers. “, Olubi said.
Corroborating her, the CIS’ First Vice President of the Institute, Mr. Tunde Amolegbe said “The Nigerian Stock Exchange had been rolling out innovative products and are they getting to the end users or are the operators embracing them ? “, asked Amolegbe.
He assured participants that top government functionaries would participate in the Conference.
Speaking further, Olubi stated that the Nigerian capital market had a lot of potentials for deepening in terms of investment products and private sector participation.
“ Privatisation of public entities which helps to improve their efficiency, will also aid the objective of boosting private sector participation in the capital markets through primary market issuances for debt and equity securities.
“Upon highlighting these various topics, it becomes imperative to discuss them extensively to ensure continual development of the Nigerian Capital Market. We have a cream of notable speakers to do justice to the topics”, said Olubi