Vice President Kashim Shettima has called on leaders in Nigeria’s capital market to restructure the system to attract more youths to leverage opportunities in the sector.
Shettima made the call on Thursday when he received the management of the Chartered Institute of Stockbrokers (CIS) led by its 13th President and Chairman of Council, Mr Oluropo Dada, at the Presidential Villa, Abuja.
He said the restructuring of the sector should include the strengthening of internal mechanisms to checkmate unwholesome practices by unscrupulous persons in the market.
On the contributions of CIS to the nation’s economy, Shettima observed that while the institute’s position in the economy was critical, it has been grossly underutilised over the years.
He called for the complete overhaul of the system and deployment of innovative measures for potential in the space to be fully harnessed.
” 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 because a lot of things are happening that have discouraged many people from participating in the sector,” he said.
Shettima noted that a vibrant stock market could lead to positive growth in the economy, hence the need for all stakeholders to develop a keen interest in happenings in the market.
He assured the institute of the President Bola Tinubu 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).”
Earlier, Dada had commended the Tinubu’s administration for its bold and courageous policies, and programme.
He also applauded the administration for the removal of petrol subsidy, banking sector re-capitalisation and reforms in the foreign exchange market.
He called on Nigerians to show more understanding and cooperate with the administration.
