FG Can Raise $500bn from Nigerian Capital Market, says CIS President

The newly sworn-in 13th president and chairman of the Governing Council of the Chartered Institute of Stockbrokers (CIS), Mr Oluropo Dada stated that the federal government can raise $500 billion from the Nigerian capital market.

The investiture ceremony held in Lagos marked the commencement of Dada’s two-year tenure as the Institute’s president and send-off for Mr Oluwole Adeosun, the immediate past president.

Dada assured that “his administration would advance inclusive participation of all stakeholders in the financial market. My vision is to build a Nigerian capital market in which securities professionals get the attention and patronage that they deserve.

“We want an all-inclusive market, with all stakeholders working as partners. My team and I will work assiduously towards upgrading capacity building in our community, while at the same time ensuring that there is a symbiotic relationship between securities dealers and all trading platforms in the country.”

He stated that the federal government, under the leadership of President Bola Tinubu, has articulated the vision of attaining a $1 trillion economy during its tenure, saying, “To do this, the economy must attain a double-digit growth in Gross Domestic Product (GDP). It is therefore my conviction that the capital market alone can generate up to at least half of the envisaged $1 trillion.

The immediate past president of CIS, Mr. Oluwole Adeosun, presented some of the major achievements during his tenure and commended Dada for his sterling contributions as the 1st Vice President during the period.

Vice President, Kashim Shettima, urged the Institute to partner with the federal government to transform the economy.

Shettima, who was represented by his special adviser on Economic Matters, Dr. Tope Fasua explained that the economy would experience significant growth once the country overcomes the ongoing reforms, Governor of Ekiti State, Abiodun Oyebanji commended the Institute, assuring of the State support for Dada’s Administration through partnership with the Institute for market development.

He showered encomiums on Dada as a man of integrity with track records of performance.