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Stanbic IBTC set to contribute to capital market growth

By Michael Eboh
Stanbic IBTC Bank Plc, as parts of its commitment towards developing emerging market across the globe, has announced its plans to contribute its quota towards fast tracking the growth of the Nigerian capital market, the financial system and the economy in general.

To this end, the bank is organising a three-day conference scheduled to hold in Lagos, next week, which is expected to bring together personalities from different sectors of the economy to discuss the next stages of development of the Nigerian stock market.

According to Mr. Akeem Oyewale, Chief Executive Officer, Stanbic IBTC Stockbrokers Limited, the major objective of the conference is to undertake a comprehensive review of Nigeria’s economic fundamentals in the wake of the global economic meltdown.

He noted that the conference will provide an opportunity to harness the efforts of all stakeholders in nurturing the economy, especially the pivotal financial services sector, back to the path of growth and development in 2010.
He further stated that the conference will provide participants with enhanced understanding of investment issues in Nigeria and create a platform for players from across sectors to network.

According to a statement by the bank, Minister of State for Finance, Mr. Remi Babalola, Central Bank of Nigeria (CBN) Governor, Mr. Sanusi Lamido Sanusi, Director General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, the Director General of the National Pension Commission (PenCom), Mr. M K Ahmad and the Director General of the Nigerian Stock Exchange (NSE), Professor Ndi Okereke_Onyiuke among others, have confirmed their willingness to attend the conference which is scheduled to take place between March 1st and 3rd.

The bank further stated that organisations that have indicated their interest to be a part of the event include Access Bank, First Bank, GTBank, Zenith Bank, First City Monument Bank Plc, Skye Bank, United Bank for Africa Plc, Diamond Bank, UAC Nigeria Plc, Dangote Sugar, Flour Mills Nigeria Plc, Dangote Flour, Nestle Foods Nigeria, Standard Allied Insurance, Benue Cement Company, Custodian and Allied Insurance, Oando Plc, AIICO Insurance, Starcomms plc, Unilever Plc, Nigerian Breweries Plc, Guinness Nigeria and Cornerstone Insurance, among others.

The statement reads, “The format of the three-day conference will consist of expert panel discussions comprised of regulators, operators and investors and will provide opportunities for one-on-one meetings with prominent Nigerian companies on a wide range of issues including their expectations for growth.

“The first session will have Mr. Remi Babalola and Mr. Stephen Bailey-Smith (Head of Standard Bank’s CEEMEA Research) make presentations on the Economic Outlook for Nigeria in 2010, while the second session looks at the Regulatory Outlook for Nigeria in 2010 with Mr. Sanusi Lamido Sanusi, Ms Arunma Oteh, Mr. M. K. Ahmad and Professor Ndi Okereke-Onyiuke as discussants

“The event, which is one in the series organised by Stanbic IBTC, a member of the Standard Bank Group, fits into a strategic goal of leveraging its international expertise and global reach to advance the development of emerging markets across the globe.”


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