The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government to implement comprehensive reforms that would establish Nigeria’s capital market as a foundation. achieving the country’s $1 trillion economic target.
A communiqué issued following a high-level seminar at the State House Conference Centre, Abuja included this suggestion. Top officials, regulators, business executives, and other important people gathered for the event themed “Capital Formation in Nigeria: Empowering Industry, Institutions, and Markets to Drive a $1 Trillion Economy. Financial experts to help map a realistic path for continuous economic expansion as well.
The stockbrokers said that although Nigeria’s trillion-dollar goal is achievable, it calls for a conscious emphasis on capital formation. They drew attention to enduring problems like weak institutions, policy incoherence, and an underdeveloped financial market that still obstruct successful capital mobilisation despite ongoing changes.
Endorsed by CIS President Oluropo Dada and Registrar Ayorinde Adeonipekun, the communiqué especially pushed the government to carefully match trade, financial, and monetary policies. They said that such harmonisation will guarantee that changes are not divided but rather propel all-around development across all economic sectors, The News Chronicle noted.
Openness and accountability are absolutely essential in building a strong capital market, according to Director General of the Securities and Exchange Commission (SEC) Dr. Emomotimi Agama. At a stakeholder gathering in Abuja on internal financial reporting mechanisms, Agama stressed how vital good internal control systems are for preserving investor confidence and sustaining long-run stability.
Arranged under the Internal Control over Financial Reporting (ICFR) project in partnership with the Financial Reporting Council (FRC), the session highlighted that internal controls go beyond technical compliance. According to Agama, they are the foundation of governance and disclosure, thereby establishing protections that advance openness, cut risks, and preserve integrity inside Nigeria’s financial system.
Experts agree that a rejuvenated capital market based on reforms, openness, and robust governance will be vital in gathering capital when Nigeria aims at a trillion-dollar economy. unlocking the country’s actual economic potential.
