By Peter Egwuatu
Capital Bancorp Plc has predicted that the current stock market downturn is likely to rebound by the fourth quarter of 2015, just as the company plans to host investor forum to enlighten both existing and prospective investors about investible opportunity in the Nigerian capital market.
Speaking to newsmen in Lagos, Managing Director of Capital Bancorp Plc, Mr. Aigboje Higo said there are various investible opportunity in the capital market, stressing that both retail and high net worth investors can invest in the market through mutual funds and other classes of securities in various sectors.
According to him “We want more local investors to participate in the Nigerian stock market.
If we have 60 per cent of local investors and 40 per cent foreign investors it would be better for our market. This is one of the reasons why we want to organise this investor forum to enlighten Nigerians of the opportunities that exist in our market. The forum will hold next week after the public holiday at four points by Sheraton Lagos.”
Higo said “The objective of the forum is to encourage active participation of domestic high net worth individuals and institutional investors in the Nigerian Capital market. We want to bolster confidence of current and potential investor in the Nigerian capital market.
We want to show with empirical evidence that domestic investors who have stayed in the Nigerian stock market post 2009 and invested wisely have indeed enhanced their wealth.”
The speakers expected at the forum, he said include: Mr. Osacay Onyema, Chief Executive, Nigerian Stock Exchange (Keynote Speaker ) , r. Henry Erimodafe, (Panelist) Mr. Bola Ajomale, Managing Director/ CEO, NASD Plc (Panelist), Mr. Kayode Falm, Executive Producer, Kayode Fahm Productions (Panelist) and Mr. Opeyemi Agbaje, Managing Director/CEO, RTC Advisory Services Limited.
Commenting on the recaitalisation of capital market operators, he said “ It would enhance investor value. It is also good to have competition in the market. The recapitalisation exercise will not lead to oligopoly as we expect to have between 100 and 150 operators in the market that will scale through.
Competition will be fierce. Investors would look for better service and value. Nigerian investors are becoming enlightened and much wiser, so also is the market developing with the advent of technology.”
He explained that Capital Bancorp had met all the requirements for re-capitalisation and minimum operating standard.