Dogara promises to deepen capital market through legislative measures

The Speaker of Federal House of Representatives, Rt. Honorable Yakubu Dogara,  has pledged to deepen the nation’s capital market using the legislative backing.

The speaker who visited the Nigerian Stock Exchange (NSE) alongside Chairman, Committee on Capital Market, Hon. Tajudeen Yusuf; Deputy Chairman, Media and Publicity, Hon. Gaza Gbefwi at the closing bell ceremony of the NSE today in Lagos, said that the House would take capital market development serious on the sideline of enforcing laws needed to curb infraction.

The visit which was the first time a Nigeria House of Representatives speaker will ring the closing bell on the bourse delighted the stock exchange community.

Dogara said the visit was to underpin the fact that the House of Representatives were working with stakeholders to deepen nation’s Capital Market.

According to him, “We believe having a robust stock market will go a long way in engendering economy prosperity for our teaming citizens who are putting their money in capital market. We will take this market seriously.

He further that, “in few weeks ago there was a summit organized by the joint committee of National Assembly, in the communique of the conference, there were some take homes for us as legislature and we promised that every agreement reach in that conference we will give them legislative attention.”

He stated that the launched Nigerian Capital Market Master Plan would be implemented.

Dogara stressed: “if the master plan is not implemented, it has good as no plan at all. We will use our legislative powers to foster capital market master plan implemented.

In his comment, the Doyen of the market, Alhaji Rasheed Yussuff pledged support for legislative action in uplifting the capital market.

Yussuff said that the firms at The Exchange were ready to work with Federal Government to enhance the capital market.

“When America economy is number one in the world, her capital market is also number one, when South African economy is number one in the continent, her capital market is number one as well, today Nigeria economy is number one in Africa but capital market is number three, therefore we have a challenge to work upon and make sure Nigeria capital market take its position as number one in Africa”, Yussuff said.