Trading session at NSE
The Chartered Institute of Stockbrokers (CIS) Thursday emphasised the need for local investors to key into the recovery the market is currently experiencing, saying the growth would continue because of efforts being put in place to restore confidence and strong market fundamentals.
CIS made the call when the Chairman of its Stockbrokers’ Annual Conference Committee, Mr. Olu Abayomi Sanya, led members of the committee on a courtesy visit to the corporate office of THISDAY Newspapers in Apapa, Lagos State.
According to him, while there is a gradual improvement in the level of local investors’ participation, which has increased from 20 per cent to 30 per cent, he noted that more investors should take advantage of the favourable valuations and the investment opportunities.
However, he said given the past experience when investors made direct investment, they should play the market through collective investment schemes or investment managers, who have the technical expertise to manage funds.
“Many investors are scared because of the experience they had in the past in the hands of some operators. But that is why it is extremely important to either go through collective investment scheme or through a stockbroker that is a member of CIS. Investors should not give their money to anybody who claims to be a broker. They should do their due diligence before parting with their hard earned money,” he said.
Speaking on the brokers’ conference, which will hold between October 10 and 12, he said it has as its theme: “Appraisal of the Nigerian Economy: An Agenda for Sustainable Capital Market Recovery.”
“Our objective is to create a platform where stakeholders including capital market regulators, operators, investors, government functionaries, can articulate the short, medium and long-term workable measures to sustain on-going market recovery,” he said.