Shettima Seeks Capital Market Reform

By Clement Alphonsus

The Vice President, Kashima Shettima urged for a restructuring of Nigeria’s capital market to enable youths to explore its opportunities.

In a statement, the Vice President disclosed this during a courtesy visit by the leadership of the Chartered Institute of Stockbrokers, led by its President and Chairman of the Governing Council, Oluropo Dada.

He applauded the institute for its contribution to the growth of Nigeria’s capital market.

According to him, “The institute’s position in the economy is critical. It has been grossly underutilised over the years.

“Leaders in the Nigerian capital market should restructure the system to deploy strategies that would attract more youths to leverage opportunities in the sector. There is a need to think outside the box to get more people to participate in the stock market.”

On his part, Dada said the CIS would continue to support the market’s expansion and development and that its members would uphold the highest standards of professionalism.

“We wish to reiterate the position held worldwide that privatising public enterprises through the capital market is the most effective way to democratise the exercise and make the process transparent.

“A well-developed capital market serves as the major tool for infrastructure financing and a successful public-private partnership regime in the country. We call for frontal action to develop the Nigerian capital market, which in turn will accelerate GDP growth to meet the Federal Government’s target of $1tn in GDP," he said.