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By Chinwendu Obienyi and Chukwuma Umeorah
Capital markets have been described as avenues for increase in values of assets and wealth creation whose proper and efficient operation is essential to sustainable national economic growth.
This was stated by Speaker of the House of Representatives, Femi Gbajabiamila, during a Public Hearing call/submission of memoranda on the Investments and Securities Bill and the Chartered Institute of Stockbrokers Bill in Abuja on Tuesday.
Represented by Peter Akpatason, Gbajabiamila stated that capital markets provide funding for new and existing businesses to innovate, expand, adapt to market changes and strides and also allows small and large scale investors to contribute to growth of enterprises and by doing so create wealth and economic development.
According to him, “Both bills for consideration today are in keeping with our commitment to the legislative agenda of the 9th House of Representatives to pursue far reaching reforms of critical institutions in our country. Our ultimate goal is to ensure that these institutions are properly grounded to perform their functions, execute their mandate and serve the best interest of the Nigerian people.
“The need to ensure that the operations of the capital market and the entire industry sector are sufficiently fair and transparent to ensure investor confidence is particularly of concern. It is often said that capital is cowardly and will run at the slightest risk. In this new global economy, when investors have the option to quickly move money across industries, nations and countries, we cannot allow deficiencies in the system that cause investors to worry about the safety of their investments.
