Lagos State Gov. Babajide Sanwo-Olu urged Nigeria’s Chartered Institute of Stockbrokers (CIS) to widen capital-market participation, saying education could help residents learn about investment options, BusinessDay reported.
BusinessDay reported Sunday, Oct. 25, that Sanwo-Olu made the remarks during a Friday courtesy visit by CIS principal officers at Lagos House, Ikeja. CIS President and Chairman of Council Fiona Ahimie led the delegation, the outlet said.
Sanwo-Olu said many people focus on meeting everyday expenses and may not know what investments are available. He pledged state support for financial-literacy efforts and professional training. He also linked professional expertise and public-private collaboration to stronger governance, investment, job creation and better opportunities for Lagos residents.
During the visit, Sanwo-Olu congratulated Ahimie as the institute’s first woman president and encouraged its new council to build on the organization’s work in professional standards, public engagement and capacity development, BusinessDay reported.
Ahimie said CIS is working with the Office of the Vice President on a program intended to give 10 million Nigerians financial-literacy training and ways to engage with capital markets. She said the initiative aims to clarify investment choices and bring more young people into the market.
CIS is also working toward a ₦5 billion endowment for professional training and capacity development, Ahimie said. The institute and the Association of Securities Dealing Houses of Nigeria have backed a 10-year plan to expand Nigeria’s capital market, with a ₦750 trillion target tied to the ambition of a $1 trillion economy by 2030, EconoTimes previously reported.
CIS’s annual conference in Lagos on Nov. 4 and 5 will provide a forum to discuss market development, financial literacy and investment participation, according to BusinessDay.
