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By Chukwuma Umeorah
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, the Chairman of Nigeria Exchange Group (NGX), Umaru Kwairanga, and other industry stakeholders are set to lead discussions on “Bridging the Gap Between Investors and Issuers in the Nigerian Capital Market” at the Capital Market Correspondents Association of Nigeria (CAMCAN) 2024 workshop.
Scheduled for December in Lagos, the two-day event will address key issues surrounding the recapitalisation of Nigerian banks, focusing on the critical need for collaborative efforts to strengthen the financial ecosystem. “Recapitalisation has become a pressing issue as Nigerian banks face the need to bolster their capital base to meet regulatory requirements, withstand global financial shocks, and support the economy’s financing needs,” CAMCAN stated in a release.
“The Central Bank of Nigeria (CBN) has implemented stringent capital adequacy standards to ensure financial stability. These reforms require banks to raise significant capital, often through the capital market, making the relationship between investors and issuers more critical than ever,” the statement added.
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The Association also highlighted that effective recapitalisation strategies hinged on robust investor confidence and a clear understanding of how transparent deployment of funds, coupled with effective communication, was essential to attract investment and drive successful capital raises.
The workshop will bring together regulators, financial experts, bank executives, capital market operators, and policy stakeholders. Agama will be the special guest of honour, while Kwairanga will chair the event. Mr. Johnson Chukwu, CEO of Cowry Asset Management, will be the guest speaker, providing insights into strategies banks can use to enhance investor confidence and meet recapitalisation requirements.
It will also feature a panel discussion with representatives from regulatory bodies and capital market operators, who will contribute further insights on addressing the challenges of bank recapitalisation.
CAMCAN, through this workshop, continues its commitment to advancing the Nigerian capital market through research, advocacy, and dialogue. The workshop’s outcomes are expected to provide actionable insights, influence policy, and strengthen Nigeria’s financial system.
