The gross neglect of the professionals’ voice has created trust deficit in their dealing with the Federal Government. It is ironic that Securities Dealers are not represented on the Monetary Policy Committee ....
The gross neglect of the professionals’ voice has created trust deficit in their dealing with the Federal Government. It is ironic that Securities Dealers are not represented on the Monetary Policy Committee where the CBN determines issues that has impacts the financial market. This explains why the MPC seems to mainly serve the interest of the money market.
On the 19th of this month, Securities Dealers shall converge at Transcorp Hilton, Abuja to renew their call on the government for Nigeria’s economic revival.
The inclement operating environment is a major impediment to viability of the financial market. The choice of Securities Dealers’ Theme for the Workshop is apt. They know that Nigeria’s financial market does not enjoy policy measures to enable it perform its role of efficient allocation of resources. The stock market no longer serves as a barometer for gauging the mood of Nigeria’s economy. Uncertainty drives the market.
The other securities markets: NASD Plc, FMDQ, Nigeria Commodities Exchange , Lagos Commodities and Futures Exchange and other commodities exchanges have provided additional platforms for Securities Dealers to serve their numerous customers. But the extent to which everyone will be on top of the game is the existence of a strong economy. This is where government should demonstrate its support for the development of the financial market.
On the lips of Securities Dealers is the hypothesis of one pronouncement. By one pronouncement, the Federal Government controversially banned Twitter. The same government made one pronouncement to ban issuance of licences to Bureau de Change operators. One can therefore conjecture that one positive pronouncement can unlock the economy and change the face of the financial market for better.
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