CAMCAN gathers stakeholders to brainstorm on Nigerian Capital Market post COVID-19

As part of its efforts to strengthen and make Nigerian capital market more viable, the Capital Market Correspondents Association of Nigeria (CAMCAN) will gather experts, regulators and stakeholders to discuss the nation’s capital market post-COVID-19 at its 2020 annual workshop slated for December 5.

The yearly workshop has been a meeting point for major economic stakeholders to articulate and proffer solutions to daunting challenges that serve as albatross to capital market development and growth.

It has also enabled the association, as a major player in the domestic economy in guiding stakeholders in making informed decision on the capital market.

This year, experts, regulators and other stakeholders will gather at Dover Hotel, Ikeja, to discuss on the theme: “COVID-19: Impact and Opportunities for the Nigerian Capital Market.”

The year 2020 has been dominated by the coronavirus disease and the negative impact of the pandemic on businesses.

The Guest Speaker is Uche Uwaleke, a Financial Economist and Professor of Capital Market at the Nasarawa State University Keffi where he was at various times the Head of Banking and Finance department as well as the Director of Quality Assurance.

Uwaleke holds a B.Sc degree in Accounting, M.Sc in Economics and PhD in Finance.

He is a Chartered Banker, Stockbroker and a Fellow of the Institute of Chartered Accountants of Nigeria.

He had worked as the Head of Research at Lombard Asset Management Limited and also served briefly as the Chief Economist and Director of Research at the Securities and Exchange Commission Nigeria.

He was a member of the Nigerian Stock Exchange Advisory Committee and a Non-Executive Director in Peace Capital Market Limited.

Uwaleke is a former Commissioner for Finance in Imo State and a member of Nigeria’s Federation Account Allocation Committee (FAAC) Postmortem Group.

He is the currently the President of the Association of Capital Market Academics of Nigeria and the Chairman of the Chartered Institute of Bankers of Nigeria Abuja Branch.

The workshop will also feature a panel of specialists from regulatory organisations and operators in the capital market, who will discuss and bring more perspectives to the guest speaker’s presentation.

The Director-General of the Securities and Exchange Commission, Dr. Lamido Yuguda, will be the special guest of honour, while the Chief Executive Officer of the Nigerian Stock Exchange, Mr Oscar Onyema and the Managing Director/Chief Executive Officer, FMDQ Group, Mr Bola Onadele, will be guests of honour.

Also, expected are the President of Chartered Institute of Stockbrokers (CIS), Mr Olatunde Amolegbe, and the President/Chairman of Council of the Institute of Capital Market Registrars ( ICMR), Mr Seyi Owoturo, among others.

CAMCAN said in a statement that the capital market is an important part of the financial system that provides the mobilisation of long-term funds from the private sector and the public sector.

“The benefits that could be derived from the capital market option of post COVID-19 recovery cuts across all levels of business and investment participants in the country.

“Coming out of the COVID-19 pandemic, businesses and governments will need operating funds, development funds, growth funds, and recovery funds (or whatever it will be termed) and they will preferably be long term funds.

“The capital market is the only institution in the country that has the capacity to adequately and sustainably handle Nigeria’s industrial and economic development needs post COVID-19 for the coming years,” it said.