FG lauds stockbrokers $1trn advocacy as 48 members bag fellowship
The Federal Government has commended the Chartered Institute of Stockbrokers (CIS) for its proactive advocacy aimed at expanding the Nigerian economy to a $1 trillion valuation, through strategic engagement with capital market opportunities.
Speaking at the 29th Annual Stockbrokers’ Conference held in Abuja over the weekend, Ibrahim Hadejia, Deputy Chief of Staff to the President in the Office of the Vice President, praised the Institute’s commitment to national economic growth.
The conference, themed “Capital Markets in a Digital, Ethical, and Sustainable Era: Charting Pathways for Economic Transformation,” brought together key stakeholders in the financial sector to discuss the future of Nigeria’s capital market markets in a rapidly evolving global market.
“On behalf of the Federal Government, I wish to commend the Chartered Institute of Stockbrokers for its bold and forward-looking advocacy aimed at positioning the Nigerian economy on the path to achieving a $1 trillion GDP.
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The journey to a $1 trillion economy is ambitious, but with strategic collaboration between government, regulators, and market operators, it is entirely achievable. We commend CIS for its leadership, and we look forward to continued partnership in building a stronger, more inclusive, and globally competitive Nigerian economy. The capital market remains one of the most powerful engines for sustainable economic transformation”, Hadejia said.
Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), delivered a keynote address on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of State for Finance, Doris Uzoka-Anite. He presented insights from the ongoing implementation of the Capital Market Master Plan (2015–2025), and the strategic outlook extending to 2035.
“Through initiatives like Risk-Based Supervision (RBS) and the National Investor Protection Fund (NIPF), we’ve raised regulatory standards and investor confidence. Digital tools such as e-Dividend and Direct Cash Settlement have improved market efficiency and transparency. However, enforcement must be faster and more decisive to deter misconduct effectively.
Agama emphasised that while significant strides have been made in institutional strengthening and governance through instruments like the Nigerian Code of Corporate Governance (2018), true market transformation.
The Capital Market Master Plan was a call to action not to rest on potential, but to pursue purposeful performance. As we approach a new decade, the focus must shift from aspiration to execution.”
In his address, Oluropo Dada,13th President and Chairman of Council of the Institute spoke on the convergence of technology, ethics, and sustainability as transformative forces reshaping global capital markets.
“Technologies such as blockchain, AI, and fintech are revolutionising the way markets function, making them more efficient and inclusive. This conference aims to explore how Nigeria can harness these trends to retool the capital market for stronger economic and social outcomes.
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“Since the COVID-19 disruptions in 2020, our capital market has delivered some of the highest verified returns on investment globally. With continued collaboration, we can reposition the economy towards double-digit“, stated Dada.
At the event, 48 members, including the former spokesman of The Nigerian Stock Exchange (now NGX), Sola Oni were conferred with the Fellowship status of the Institute while 220 others were inducted as Associate Members.
In his goodwill message, Umaru Kwairanga, Chairman of NGX Group Plc, stressed the importance of sustainability as a guiding principle for financial markets saying: “The future of finance is green. We must channel capital into climate-resilient initiatives, renewable energy, and the broader low-carbon transition. NGX remains committed to integrating ESG principles across the market.”
Sam Onukwue, chairman, Association of Securities Dealing Houses of Nigeria (ASHON) echoed the call for clear regulation and product innovation: “Stable, predictable policies are crucial to attracting investment. Diversifying instruments, including non-interest and alternative products, iskey to broadening investor participation. Furthermore, liquidity and smooth exit mechanisms are essential to maintaining investor confidence.”
