Nigeria’s Vice President, Kashim Shettima, has called on leaders in Nigeria’s capital market to restructure the system to deploy strategies that would attract more youths to leverage opportunities in the sector.
The restructuring of the sector, he said, should include, among other things, the strengthening of internal mechanisms to checkmate unwholesome practices by unscrupulous persons in the market.
The Vice President made the call on Thursday when he received the management of the Chartered Institute of Stockbrokers (CIS) led by its President, Oluropo Dada, on a courtesy visit to the Presidential Villa, Abuja.
Speaking on the contributions of CIS to the nation’s economy, the President observed that while the institute’s position in the economy is critical, it has been grossly underutilized over the years.
Innovation
He called for the complete overhaul of the system and deployment of innovative measures for potentials in the space to be fully harnessed.
The VP stated: “There is a need to think outside the box to get more people to participate in the stock market. How do you get more youths to be interested in the Nigeria capital market? You need to develop and put in place strategies to engage more youths to take advantage of the opportunities in the capital market.
“I also want to urge you to go and put in place structures and a mechanism to checkmate sharp practices in the capital market. Go and strengthen your internal mechanism for watching your members, a lot of things are happening that have discouraged many people from participating in the sector.”
VP Shettima noted that a vibrant stock market can lead to positive growth in the economy, hence the need for all stakeholders to develop a keen interest in the market.
The Vice President assured the institute of the administration’s unwavering support for its activities, including efforts to review the Act establishing CIS and its quest to have members participate in the programmes of the National Institute for Policy and Strategic Studies (NIPSS).
Bold Policies
Earlier, the President of CIS, Dada, commended the Tinubu administration for its bold and courageous policies, and programme, including the petrol subsidy removal, banking sector recapitalization and reforms in the foreign exchange market.
He called on Nigerians to show more understanding and cooperate with the administration, assuring that the Federal Government will meet and even surpass the expectations of Nigerians in the key sectors of the economy.
Lantana Nasir
