Tinubu’s government seeks restructuring of capital market
Vice-President Kashim Shettima has called on leaders in Nigeria’s capital market to restructure the system to attract more youths and leverage opportunities in the sector.
Mr Shettima made the call on Thursday when he received the management of the Chartered Institute of Stockbrokers (CIS) led by its 13th president and chairman, Oluropo Dada, at the Presidential Villa, Abuja.
He said the restructuring of the sector should include strengthening internal mechanisms to checkmate unwholesome market practices by unscrupulous individuals.
Regarding CIS’s contributions to the nation’s economy, Mr Shettima observed that while the institute’s position in the economy was critical, it has been grossly underutilised over the years.
He called for a complete overhaul of the system and the deployment of innovative measures to fully harness the space’s potential.
“There is a need to think outside the box to get more people to participate in the stock market. How do you get more youths to be interested in the Nigeria capital market? You need to develop and put in place strategies to engage more youths to take advantage of the opportunities in the capital market.
“I also want to urge you to go and put in place structures and a mechanism to checkmate sharp practices in the capital market. Go and strengthen your internal mechanism for watching your members because a lot of things are happening that have discouraged many people from participating in the sector,” he said.
Mr Shettima noted that a vibrant stock market could lead to positive economic growth, hence the need for all stakeholders to develop a keen interest in market developments.
He assured the institute of the President Bola Tinubu administration’s unwavering support for its activities, including efforts to review the Act establishing CIS.
“And its quest to have members participate in the programmes of the National Institute for Policy and Strategic Studies (NIPSS),” Mr Shettima noted.
(NAN)
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