Stockbrokers To Set Blueprint For Economic Revival

The Chartered Institute of Stockbrokers is set to prepare a roadmap on how the Federal Government can leverage the capital market to put Nigeria’s dwindling economy on sound footing.

The institute, in a statement, noted that it shall in November converge for the 2020 Annual Conference of Stockbrokers on both physical and virtual modes to articulate options for the nation’s economic revival.

The conference, according to the institute, is themed, ‘Navigating through the Storms-Reenergising the Economy through the Capital Market’.

The institute said the conference, coming at a period when Vice President Yemi Osinbajo says that government is seeking alternative avenues for money, would attract indigenous and foreign finance and investment experts, top-level government functionaries, capital market regulators, investors and other members of the capital market ecosystem.

“The significance of this year’s theme is better appreciated against the backdrop of the current situation whereby the Federal Government is in dire need of fund to finance the economy. The key messages to the government and companies in Nigeria are that of hope and renewal by taking advantage of opportunities to source long term fund through the capital market.

“The Federal Government should access medium and long term fund from the market to finance budget deficit and build infrastructure among others. Companies should also explore the market to shore up working capital, invest in Information and Communication Technology (grow business, enhance profitability and boost return on investment”, the President, CIS, Olatunde Amolegbe, said.

Corroborating him, the Institute’s Registrar and Chief Executive, Adedeji Ajadi, noted that COVID-19 pandemic had necessitated the need for a comprehensive turnaround of Nigeria’s economy.

“We are sending a poser to the government: With the challenges of Covid, a looming recession and other economic issues in Nigeria, how do we turn our economy around? We are suggesting that, if well- explored, the capital market can be a major catalyst to drive the desired growth, and take us through the storm,” Ajadi said.

Some of the issues that will dominate the discussion of seasoned experts from diverse professional background include: Alternative Investments: How to Invest when Traditional Options Taper;?The Nigerian Stock Exchange Demutualization: Demystifying the Big Picture; Infrastructure and Deficit Funding: Bridging the Gap via the Nigerian Capital Market and Rebirth of CAMA: Implications for Capital Market Ecosystem.

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