The President of the Chartered Institute of Stockbrokers, Oluwole Adeosun, has urged the President-elect, Bola Tinubu, to start engagement with capital market operators before his inauguration on May 29, 2023.
Adeosun said this in an interview with our correspondent on Wednesday.
The CIS president spoke on the expectations of investors in the incoming government.
He said, “We expect the new president and his government to hit the grounds running before the inauguration by immediately opening engagement with the capital market community, as that will help in crafting an effective plan of action for the administration.
“We expect a stable and unified exchange rate which will increase the level of foreign investors’ participation in our market. We also expect policy and positive pronouncements that will boost the confidence of stakeholders.”
The stockbroker called on the incoming government to address challenges in the sector.
He said “First, is to properly situate the capital market in the scheme of things in the Nigerian economy. The capital and money markets must receive balanced attention for the economy to grow maximally, even optimally as the capital market provides the barometer that measures the state of the economy.
“Second is to address the issue of trading liquidity. Get the banks and CBN to give more support to capital market operators. We have to revisit margin lending /trading in the financial markets.
“Furthermore, persuade the pension funds to invest a lot more on equities, to create that stability that will motivate other high net worth to invest.”
He sought a more stable exchange rate to spur foreign investments.
“The government should lend more support to investor literacy, and specifically support CIS with annual grants to enable it perform and widen its work in this area,” he said.
