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Obasanjo to FG: Turn to capital market for economic revival

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By Peter Egwuatu

Former President, Chief Olusegun Obasanjo, has advocated the need for the Federal Government to source medium and long term fund from Nigeria’s capital market to execute projects.

Chief Obasanjo also endorsed the ongoing capital market literacy programme of the Chartered Institute of Stockbrokers, CIS, as a veritable strategy to expose Nigerians to the pre-eminent position of the capital market in the development of any economy.

The CIS had embarked on lecture series in schools, churches, mosques, club houses, among others, to create awareness on the benefits of the capital market.

In a closed-door meeting with the principal officers of CIS at his Ota country home, weekend, Chief Obasanjo commended the institute for taking its enlightenment programme of the relevance of the capital market to the growth and development of Nigeria’s economy to the doorstep of every citizen.

He said Nigeria’s capital market had always been a platform for individuals to undertake capital formation, while corporate organisations and governments at all tiers could mobilise medium and long term funds.

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