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Economy: Stockbrokers advise FG, INEC, political parties on 2023 elections

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The Federal Government, the Independent National Electoral Commission and various political parties have been urged to avoid any act that could trigger violence in the 2023 election campaign.
Mr. Akeem Oyewale, chair of research and technology at the Chartered Institute of Stockbrokers (CIS), had this to say at the institute's Annual National Economic Review and Outlook 2022 webinar on Wednesday in Lagos.
Oyewale urged them to act in a spirit of justice and tolerance to avoid acts that could lead to violence in the run-up to the 2023 elections.
Speaking on the topic:
Economy: Stockbrokers advise FG, INEC, political parties on 2023 elections

The Federal Government, the Independent National Electoral Commission and various political parties have been urged to avoid any act that could trigger violence in the 2023 election campaign.

Mr. Akeem Oyewale, chair of research and technology at the Chartered Institute of Stockbrokers (CIS), had this to say at the institute’s Annual National Economic Review and Outlook 2022 webinar on Wednesday in Lagos.

Oyewale urged them to act in a spirit of justice and tolerance to avoid acts that could lead to violence in the run-up to the 2023 elections.

Speaking on the topic: “Global Dynamics Shaping Nigeria’s Economic Future”, he said that the economy would be a determining factor in 2022.

Oyewale listed the main factors such as the process leading up to the 2023 general election and the response to Omicron and the effects of COVID-19.

He also said that the Federal Government should intensify its engagement with Nigeria’s capital market to better smoothly finance the 2022 budget deficit without inflating borrowing too much.

Oyewale also directed the Central Bank of Nigeria (CBN) to fully consider the effects on the capital market when making monetary and fiscal policies.

According to him, the philosophy of building an economy led by the private sector enshrined in the National Development Plan must be strictly adhered to.

On the need for new listings, Oyewale said that NNPC‘s trading should continue with the public listing of its shares on the stock market.

This, he said, would give Nigerians the opportunity to co-own one of the country’s commanding heights.

From left to right: Second Vice President, Chartered Institute of Stockbrokers (CIS), Oluropo Dada, Associate Vice Chancellor, Mountain Top University, Professor John Akinyomi, President, CIS, Olatunde Amolegbe and Registrar and CEO, Josiah Akerewusi during the Nigerian Economic Review of CIS and Outlook for 2022 in Lagos yesterday

Oyewale added that the CBN and banks should grant trading facilities to securities trading firms in the country to maintain optimism in the capital market.

Speaking further, he urged pension funds and other institutional investors to increase their investment in the stock market to create much-needed stability and encourage new investment.

Earlier, Mr. Olatunde Amolegbe, President of the CIS Council, said that the institute would continue with initiatives that would enhance its growth and development in 2022.

Amolegbe said that CIS would undertake activities that would promote capital market literacy in all geopolitical zones of the country.

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He said he would strengthen collaboration with international professional bodies such as CISI UK and others for the benefit of their members.

Amolegbe said the institute was working to increase the number of Nigerian universities offering graduate and undergraduate courses in securities and investment/capital market studies.

“Our vision by 2022 is to see the Securities and Investments profession registered in the hearts of young Nigerian academics as their preferred career path and CIS as the model to be followed by other professional bodies,” he said.

Amolegbe spoke on the topic: “Performance Scorecard 2021 and Vision for 2022”.

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Source: NAN

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