The Chartered Institute of Stockbrokers has restated its commitment to the development of Nigeria’s capital market, saying every serious nation strives to optimally develop its capital market.
The Head, Research and Technical Department, CIS, Mr. Arinze Nwobu, said this at symposium organised for banking and finance students of the University of Nigeria, Nsukka, a statement by the institute said.
Nwobu was quoted as saying that a vibrant capital market was vital to national development because the capital market “consists of a web of institutions and mechanism through which long-term investible funds are mobilised and channeled from surplus ends, to deficit ends for entrepreneurship, innovation, research, job and wealth creation”.
He, therefore, called on stakeholders to work towards ensuring that the capital market becomes the dominant source of financing for capital projects in the country.
Nwobu added that the capital market had the ability to spur industrial growth and encourage the creation of jobs, among other things.
The CIS official urged the UNN students to take advantage of the many opportunities in the capital market for their professional advancement.
He said that by enrolling for the institute’s Professional Diploma in Securities and Investment, they could become operators in the capital market.
He explained that by getting appropriate training in securities and investment, the students could build careers in all segments of the financial sector – banking, stockbroking, financial advisory, asset management and in other areas of business and governance.
Nwobu, who was at the symposium along with the institute’s Marketing and Media Liason Officer, Mr. Olumide Coker, explained that the financial system remained the life blood of the economy.
In his response, the Head, Banking and Finance Department, University of Nigeria, Nsukka, Associate Prof, Chuke Nwude, commended the CIS for its initiatives and promised that the department would make it encourage the students to take the institute’s proposition seriously.
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