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Securities dealers plan strategies for market recovery

Securities dealers have planned a commitment to advise on strategies to support the recovery of Nigeria’s financial markets and economy.

According to a statement from the Chartered Institute of Stockbrokers, financial market players and stakeholders will host a forum this week in Abuja on “Using Financial Markets to Deliver Double-Digit Economic Growth for Nigeria”.

Organized by the CIS, the event would highlight the gaps in government use of the financial market and the way forward.

The President of the CIS, Mr Olatunde Amolegbe, said the theme of the workshop was timely given the various challenges facing the financial market and the need to reposition the market for optimal use by all sectors.

He said: “As financial engineers and wealth creators, we regularly advise governments on the need to use the financial market to build infrastructures. This is the basis for this year’s workshop theme. Despite its potential to generate revenue for accelerated infrastructure development, our market is still largely untapped.

“The workshop is specifically designed to enable high-level decision-makers in government and the private sector to develop initiatives that will improve the overall development of the economy through investment opportunities in the financial market.

“Over the years, successive governments at all levels have used the market to carry out development projects. This model should be renewed in order to minimize the incessant borrowing of the state. It is not a contradiction in terms that there is a connection between the development of the capital market and the economy. ”

Amolegbe said market regulators and operators would do justice to the issue and provide a blueprint for the government to move on to normal course for macroeconomic development.

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