Foreign Securities ExpertÂ Bullish onÂ Nigerian CapitalÂ Market
A fellow of the Chartered Institute for Securities and Investment (CISI), United Kingdom,Â Mr. Alan Burr, has saidÂ Â that the Nigeria’s capital market, has become the focus of the international financial expertÂ Â because of theÂ Â growth it is recordingÂ Â and many investment opportunities.
Burr spoke at the commencement of the special training by Chartered Institute of Stockbrokers (CIS) and CISI on commodity derivatives.
“Nigeria is a great interest because it is such a large and expanding economy.Â Â In that respect,Â its stock exchange reflects that and the good thing is that it is one of the fastest growing stock exchanges and London investment community will be looking at it very closely,” heÂ said.
Speaking on the capacity building, heÂ said CISI has a wide network internationally, hence, members of the CIS would benefit immensely from this network after the ongoing training. He commended Nigeria’s capital market professionals for their strong professional background.
Also speaking, the President, CIS, Mr. Oluwaseyi Abe explained the justification for the training, sayingÂ Â participants wouldÂ Â have a first introduction to financial services regulation focusing on financial crime, insider trading and market abuse, and an understanding of ethical behaviour and acting with integrity.
“They will learn practical trading strategies and techniques in various commodity markets, understand core price drivers, characteristics of risks, rationale for investment and the use of commodity derivatives.
“They will have a broad understanding of the economic environment wherein the financial services industry operates and how economic activities are determined and managed in different economic and political systems,” Abe said.
Speaking on the need for Nigeria’s Stockbrokers to trade on international markets, CIS’s Second Vice President , Mr. TundeÂ Â Amolegbe noted that some Nigeria’s banks were already listed offshore and this implying that at individual levels, stockbrokers in Nigeria must brace up for offshore trading.
“As a matter of fact, not only in London, we have various partnerships, even across South Africa. Nigeria is a member of the AfricanÂ Â Â Securities ExchangesÂ Â Association(ASEA), so we are saying that with the knowledge they are gaining from this training, will not only enable them toÂ Â trade on the London Stock Exchange but on other Africa stock exchanges that adhere to international standards.
“Their knowledge level will be such that ability to trade on those platforms or exchanges would not be difficult after this type of training,” he stated.