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Brokers harps on patronage of Capital Market

By on April 25, 2014

The Chartered Institute of Stockbrokers (CIS) has restated the importance of the nation’s capital market to development and growth of the Nigerian economy.

The President of The institute, Mr. Ariyo Olushekun, who stated this in an interview with journalists in Lagos, noted that the capital market has been a good source of funds for  both companies and government, saying the is the need for them to keep patronising the  market.

According to him, given the limited resources amid the huge infrastructure gaps, the market would remain the best option for government and private sector to finance their projects and operations respectively.

This end, Olushekun said the stockbroking community  has continued to engage  government officials and major players in the economy on how to ensure that economy moves forward. One of the  ways  of engagement is the CIS national workshop.

“The institute as part of efforts to take its rightful place in charting a new course for our country has resolved to take a more active role in influencing economic policy by organising annual national workshops. This workshop will help contribute immensely to the transformation, not only of the capital market, but the national economy as a whole,” he said.

Olushekun disclosed that  the workshop will assist government agencies to track budget performance and show case best practices in service delivery.

“The workshop will present an avenue to influence government policies thereby ensuring the growth and development of the key sectors of the Nigerian economy,” he added.

Speaking in the same vein,  the  Chairman of the Organising Committee for the 3rd CIS national workshop, Mr. Albert Okumagba said the workshop will focus on Trade and Investment, Power and Agriculture sectors, stressing that these sectors are  critical sectors that hold strategic importance to boosting the economy in general.

Okumagba disclosed  the institute had in  the past engaged relevant authorities to ensure that resolutions at the workshop were implemented.

“We played major role in the passage of Asset Management Corporation of Nigeria, AMCON Bill. The CIS contributed significantly to the establishment of AMCON.  Also the amended investment guidelines for Pension Fund Asset by the PENCOM are also part of the CIS’s effort,” he said.

 

 

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