As preparation for the landmark investiture of Mr Atedo Peterside as honourary fellow of Chartered Institute of Stockbrokers (CIS) and induction of new associates beef up, the former Secretary General, Commonwealth, Chief Emeka Anyaoku has accepted to be the Special Guest of Honour.
Market watchers at the weekend described Chief Anayaoku’s participation at the event, scheduled for Thursday, February 27, 2020 at Oriental Hotel, Lekki, Lagos, as a strategic move by the Institute to secure the buy-in of credible Nigerians and influencers into its programmes.
“ Chief Anyaoku is an elderly statesman and a frontline technocrat. We at the Institute recognize his services to Nigeria and he has passion for the capital market. The Institute has decided to invite him as the Special Guest of Honour at the Investiture and Induction Ceremonies slated for 27th February. That was the basis for courtesy visit, said Adedapo Adekoje, the Institute’s President and Chairman of Council, who spoke with The Kernel at the weekend.
Responding to the invitation, Chief Anyaoku said : “ I have an indirect interest in the capital market through my late friend, Gamaliel Onasode. I am a shareholder. We must commend the managers of our market because they play pivotal roles at various levels in the development of the capital market. I shall attend the Investiture and induction ceremonies despite my tight schedule that day.”, said Chief Anyaoku, responding to the invitation by the CIS’ Principal Officers, during the courtesy visit.
Chief Anyaoku, who showered encomiums on the board and management of the Institute for training and certification of manpower for the capital market, urged the federal government to utilize the Nigeria’s capital market to fund infrastructure deficit.
According to him, governments in developed economies utilize the capital market to fund infrastructure projects by taking advantage of long term investment opportunities in the market to raise fund for development projects.
“ The capital market has important roles to play in the national economy. The managers of the capital market and the operators play pivotal roles. Developed countries did not just develop on the basis of government funding alone, but participation of the private sectors. I am happy that the Central Bank of Nigeria (CBN) is collaborating with Bankers Committee on how to fund the huge infrastructure gap in Nigeria through Public Private Partnership ( PPP)
“ Many big companies in Nigeria are performing below average because of lack of resources. The resources provided by the government is inadequate. There is a need for mobilization of private capital to enable the companies operate optimally.”, hw said.
The technocrat warned against Nigeria’s adoption of common currency in the West African region saying it was too early and should not be rushed. He argued that It took European countries many years to achieve common currency and the management of fiscal policies of the member countries must be studied.
Commenting on the closure of the border, the technocrat said the opportunities created by the closure would be used to protect our local industries and stimulate economic growth. But he cautioned that bother closure should not be a permanent decision.
Other Principal Officers on the courtesy visit were the 1st Vice President, Mr Tunde Amolegbe, 2nd Vice President, Mr Wole Adeosun and Registrar and Chief Executive, Mr Adedeji Ajadi.