‘Policy consistency, national saving will boost equity market’
To attract higher investor participation in Nigeria’s capital market, the Association of Investment Advisers and Portfolio Managers (IAPM), has urged government to tackle the issue of policy inconsistency, and promote national savings culture through the provision of appropriate incentives.
Besides, the Association also renewed the call for the Nigerian judicial system to ensure that it handles capital market issues with priority.
IAPM made the call at a news conference to announce its 2018 forum slated for November 14, in Lagos.
Specifically, the ex-President of the Association, Oluwatoyin Sanni, urged government to focus more on initiatives that would restore investors’ confidence and develop the market.
She reiterated the need to generate more savings in country through incentivised measures, to enhance more patronage by retail investors’ and increase investment in the market, adding that consistency in government initiatives would boost investors’ confidence.
Sanni, who is also the Director-General, Emerging Africa Capital Limited, noted that investors are more concerned with the process of redress in every market, adding that the judiciary must fast-track the process of adjudicating capital market cases.
She added, “Savings culture must be improved, financial literacy cannot be done by a part of the market alone, government needs to support operators initiatives to promote financial literacy. IAPM has been engaging with the Securities and Exchange Commission (SEC), to support investors’ education.
The President, IAPM, Abimbola Olashore, said the Association is repositioning to ensure that appropriate structures that would boost investors’ confidence are put in place.
He also said the 2018 forum, would provide opportunity for the investment community to interface with the regulators on market issues, and the official launch of the Corporate and Individual Investment Advisers (CIIA), an affiliate of IAPM, registered by the SEC.