The President of the Chartered Institute of Stockbrokers, Oluwole Adeosun, has stated that stockbrokers have important roles in the proposed bank recapitalisation.
He stated this at the investiture of the Managing Director/Chief Executive Officer of Central Securities Clearing System Plc, Haruna Jalo-Waziri, as a fellow of the Chartered Institute of Stockbrokers.
According to Adeosun, the success of previous banking sector recapitalisation exercises was based on the analytical skills of stockbrokers.
He said, “The success of the banking sector recapitalisation exercise of 2005-2007 was essentially due to the analytic and marketing formation work done by Nigerian stockbrokers. The equity market has been a source of sustainable wealth creation for individuals and corporate institutions across the country, consistently outperforming the rest of the economy, while proving to be a reliable hedge against inflation.
“The work of chartered stockbrokers has, therefore, contributed significant key to GDP growth and economic development in Nigeria.”
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