By Daud Olatunji

ABEOKUTA – Former President Olusegun Obasanjo has said that the present economic recession could only be fought successfully if confidence, stability, credibility and transparency could be guaranteed at the stocks exchange market.

Obasanjo who urged the authorities at the stock exchange to create confidence in the Stocks market, claimed that the market has made a billionaire to become a millionaire while a millionaire becomes ‘thousandnaire’.

The former president stated this while receiving the Director General, Securities and Exchange Commission (SEC), Mounir Gwarzo at his Presidential Hilltop mansion in Abeokuta yesterday.

He declared that Nigeria needs all-encompassing economic parameters to rebound the ailing economy which includes building investors’ confidence in stocks marketing system.

Responding, Mounir Gwarzo, SEC DG disclosed that the Commission was in Abeokuta in continuation of Financial Literacy and Quiz Competition in Primary and Secondary school levels as part of efforts to inculcate financial culture in the young ones.