By Peter Egwuatu
Stockbrokers under the aegis of Chartered Institute of Stockbrokers, CIS have called on the Federal Government to review the entire financial system and as well as list some of its entities in Nigeria and other world’s major stock exchanges if its vision of double digit growth must be realised.
The stockbrokers also demanded for quick inauguration of the Boards of the Securities and Exchange Commission, SEC, and the National Pension Commission, PENCOM, as they play key role in the development of the capital market and the economy in general.
Speaking on the theme: “Strategies to achieve double digit growth for Nigeria: The capital market option” during an interactive session between the CIS and the Vice President, Professor Yemi Osinbajo in Lagos last weekend, the President and Chairman of Council of the Institute, Mr Adedapo Adekoje said that the government should use the capital market instruments to address the infrastructure gaps in the country, adding that the capital market must be given adequate attention if the country must realize double digit growth.
He emphasized the need for government to continuously engage the Institute and other stakeholders in the capital market, stressing that the capital market can help accelerate the economic growth, reduce unemployment among others.
In his address at the interactive session, the Vice President, represented by the Minister of Trade and Industry, Dr. Okechukwu Enelamah said: “The government has done well in moving the economy forward considering where it met it in 2015. Nevertheless, there are still a lot more to do that is why we are having this session. Government alone cannot do it all, we need the private sector to provide the needed fund to bridge infrastructure gaps.”