Stockbrokers Call for Capital Market Reforms to Achieve Nigeria’s $1 Trillion Economy Goal
The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government to implement comprehensive capital market reforms as part of efforts to position Nigeria for its $1 trillion economy target. The call was made in a communiqué released after a one-day workshop held at the State House Conference Centre, Abuja, with the theme: “Capital Formation in Nigeria: Empowering Industry, Institutions, and Markets to Drive a $1 Trillion Economy.”
The event brought together policymakers, regulators, financial experts, and industry leaders to map out strategies that can drive sustainable economic growth. Participants emphasized that Nigeria’s ambition of becoming a $1 trillion economy is achievable but will require deliberate and coordinated actions to strengthen capital formation and boost investor confidence.
Stockbrokers at the forum highlighted key challenges hindering market growth, including weak institutions, policy inconsistencies, and an underdeveloped financial market. They warned that these obstacles continue to undermine capital mobilisation despite recent reforms. The communiqué, signed by CIS President Oluropo Dada and Registrar Ayorinde Adeonipekun, called for harmonisation of fiscal, trade, and monetary policies to drive investment and unlock market potential.
Meanwhile, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, underscored the importance of accountability and transparency in attracting investors and maintaining market stability. Speaking at a stakeholder engagement on internal control over financial reporting in Abuja, Agama stressed that strong governance structures are crucial for safeguarding market integrity.
Agama further explained that effective internal control mechanisms are not just technical requirements but fundamental pillars of good governance. According to him, the absence of such measures increases systemic risks, erodes trust, and discourages investor participation, making transparency and disclosure vital for Nigeria’s financial ecosystem.
Source: The Guardian