In a recent statement, Oluwole Adeosun, the President of the Chartered Institute of Stockbrokers, emphasized the pivotal role stockbrokers play in the proposed bank recapitalization. This declaration came during the investiture ceremony of Haruna Jalo-Waziri, the Managing Director/Chief Executive Officer of Central Securities Clearing System Plc, as a fellow of the Chartered Institute of Stockbrokers.
Adeosun highlighted the historical significance of stockbrokers in the success of previous banking sector recapitalization exercises. Specifically, he pointed to the 2005-2007 recapitalization, attributing its success to the analytical skills and marketing efforts of Nigerian stockbrokers.
According to Adeosun, the equity market has consistently been a source of sustainable wealth creation for individuals and corporate institutions nationwide. Moreover, it has demonstrated its reliability as a hedge against inflation, outperforming other sectors of the economy.
In his address, Adeosun underscored the broader impact of chartered stockbrokers on Nigeria’s economic landscape. He stated that their work has significantly contributed to key GDP growth and overall economic development in the country. This recognition reinforces the vital role stockbrokers continue to play in shaping the financial sector and fostering economic prosperity in Nigeria.
Source: The Punch