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Investor Confidence Catalyst To Sustainable Capital Market Growth – Ahmed

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has stressed the criticality of investor confidence in accelerating the nation’s capital market given its potential to increase  domestic and foreign investment in the bourse.

The minister, who made this remark during the launch of the revised Capital Market Master Plan in Lagos Thursday, stressed that the market should be characterized by high level of compliance with ethical standards, deep liquidity and sophistication, good corporate governance, and a strong domestic investor base.

Ahmed, represented by the Director-General Debt Management Office (DMO), Ms. Patience Oniha, at the forum, assured continued support of government to the regulatory authorities efforts to growth the capital market.

She said: “Nigeria needs a capital market that broadens access to economic prosperity by enabling the emergence of financially responsible citizens, accelerating wealth creation and distribution, providing capital to small and medium scale enterprises, and catalysing housing finance.

“I consider the revised Capital Market Master Plan a veritable tool which the Capital Market must use as it drives key initiatives towards achieving the Country’s economic growth objectives”, the minister added.

Ahmed said the implementation of the Master Plan remained one of the key initiatives in the 40- Deliverable Presidential mandate of the Federal Ministry of Finance, Budget and National Planning.

She also underscored the priority the government had been giving  the capital market through its commitment to deepening and re-positioning the financial market as a key anchor to achieving a private sector led development of our economy as emphasized in the National Development Plan (NDP) objectives.

Ahmed further clarified: “This Administration and especially my Office has supported the Capital Market Master Plan implementation efforts since inception.

“The Master Plan, which represents collective aspirations of the capital market community is focused on driving initiatives geared towards growing and deepening the Market with the ultimate goal of accelerating the emergence of our Country in the top 20 global economies by the year 2025”, she added.

The minister commended the commission, CAMMIC and the Capital Market community for the laudable achievements especially in the areas of Dematerialization of share certificates, E- Dividend Mandate Management System, facilitation of access to alternative investments like SUKUK, enhancing the Commodities Trading Eco-system, National Savings Strategy, Demutualization of the NSE, and the ongoing review of the ISA among others.

In his remarks, Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, explained that the Master Plan  was designed to chart a strategic direction while providing clarity of vision and a robust road map required to facilitate innovation, investment, growth and expansion of empowering opportunities in Nigeria and beyond.

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