Garcia and Liu showed that a strong banking sector has a positive impact on stock market development. Security CapitalMarket CentralBankOfNigeria RegulatoryCompliance Banks BankingSector Nigeria
At a webinar on, “Banks and Other Financial Institutions Amendment Bill 2020: A capital market perspective,” the experts insisted that strengthening the BoFIA via the 2020 Amendment Bill, will go a long way in enhancing the role of banks in supporting medium-to-long term funds’ mobilisation in the capital market, which ensures the overall stability of the financial system.
According to them, a study on the macroeconomic determinants of stock market development in selected Latin American and Asian countries, Garcia and Liu showed that a strong banking sector has a positive impact on stock market development. He said: “It goes without saying that the banking sector, which comes under the direct supervision of the CBN, supports the capital market in several ways. Indeed, the two intermediaries, banks, which mobilize short term funds, and the capital market concerned with medium-to-long term funds actually complement and reinforce each other.
“This model can still be replicated in the case of Fintech companies with the SEC responsible for aspects of Fintech that have to do with the capital market.” He reiterated that emphasis on recurrent spending does not grow the stock market, and urged government to ensure that the outstanding initiatives in the 10-year Capital Market Master Plan are mainstreamed into the FGN’s new Medium-term Economic Roadmap 2020-2025, the successor to ERGP.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Imo government bans mining activities in Owerri | The Guardian Nigeria News - Nigeria and World NewsAccording to the statement, the measure was aimed at safeguarding the environment, noting that all those involved prior to the order must not violate it, else, will face the music accordingly.
Read more »
Music artist, pianist arrested for robbery in Lagos | The Guardian Nigeria News - Nigeria and World NewsTwo entertainers, a musician and a pianist have been arrested by the Rapid Response Squad unit of the Lagos Police Command for robbery. The police in a statement said the duo confessed that they were forced into the robbery by the need to survive the hunger caused by the COVID-19 lockdown. The suspects – Chinonso …
Read more »
Lagos commission verifies clubs, bars for reopening | The Guardian Nigeria News - Nigeria and World NewsThe Lagos State Safety Commission has commenced physical verification of all social clubs in the state ahead of the planned reopening. The exercise was led by the Director-General (DG) of the safety commission, Mr Lanre Mojola...
Read more »
CAN seeks urgent intervention in security, education sectors | The Guardian Nigeria News - Nigeria and World News“Truth be told, we pray that there will be an urgent turn around, because every serious minded nation makes huge budgetary provisions for education, which will in turn usher development.” Education Security Nigeria
Read more »
Unfinished business | The Guardian Nigeria News - Nigeria and World News
Read more »
Democracy Day: Enugu frees 25 prison inmates | The Guardian Nigeria News - Nigeria and World NewsAlso, Governor David Umahi of Ebonyi State, yesterday, said democracy was people-centered and his government puts the people first in everything they do. Democracy Enugu Nigeria June12
Read more »