The founder and chairman, Coronation Group, Aigboje Aig-Imoukhuede, has stressed the need to increase the number of Nigerians in the capital market to 100
million to drive growth in the economy, saying, the lack of long term financing is a constraint to the economy.
Aig-Imoukhuede, who was a past president of council of the Nigerian Exchange Group, while speaking at his investiture as a Honorary Fellow of the Chartered Institute of Stockbrokers yesterday, noted that, he is committed over the next years to driving increased participation in the Nigerian capital market.
This is also as the Coronation Group has been granted a Capital Market Holding Company licence from the Securities and Exchange Commission . Speaking on the NGX, Aig-Imoukhuede said, the capital market is a platform for mobilising financial resources and deploying them for investment and one of the relationships you find between vibrant and performing capital market is the level of economic advancement.
According to him, “if the country can replicate the success of deposit money banks in retail and commercial banking in our capital market in the areas of insurance and pension, Nigeria will take off. This is because the financing of infrastructure and productive capacity is really not done with loans alone. You must have equity and very long capital and the lack of such capital is a constraint to growth.
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