The Chartered Institute of Stockbrokers (CIS) has outlined key areas for the President elect, Senator Bola Ahmed Tinubu, to focus on when he assumes office in order to strengthen the Nigerian capital market and accelerate the nation’s economic development.
The President and Chairman of Council of the Institute, Mr. Oluwole Adeosun, said that the incoming administration should give equal attention to the capital and money markets and called for a unified exchange rate of the Naira.
Adeosun also emphasized that the incoming administration must pay close attention to the capital market’s potential and collaborate with relevant stakeholders to ensure a conducive regulatory environment for growth and investment.
Reacting to the CIS’ investment and monetary policy recommendations, analysts at Proshare Limited, one of Nigeria’s leading investment and economic research and consulting firm, believe that strengthening the capital market will attract foreign investors to the market and contribute to its growth, noting that the Institute’s leadership position on the strengthening fundamentals of the market is in line with recent market trends.
Noting that the Nigerian market has experienced consistent growth and that the CIS President believes that the election season will further boost investor confidence, the investment experts agree that the government’s support for the market is crucial to unlocking the market’s value and urged the government to prioritize policies that promote market transparency, investor protection, and ethical conduct among market participants.
The Proshare analysts also believe that the CIS leadership’s call for accountability will create trust in the market, attracting more investors to the Nigerian economy.
They advocated: “The incoming administration must aim to strengthen the capital market and promote its potential as a catalyst for economic growth and development. This will foster an attractive investment climate in Nigeria and position the market for long-term growth.”
