PEARL Awards Boss Calls for Investorsâ€™ Education to Improve Patronage
The Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have been urged to collaborate with other stakeholders to raise the level of investorsâ€™ education in order to increase patronage of the stock market.
The call was made by the President, PEARL Awards Nigeria, Mr. Tayo Orekoya yesterday in Lagos at a press conference on the 2017 edition of the awards.
According to Orekoya, although the market has witnessed a gradual rebound, he noted that economic recession took its toll on the capital market like most other sectors of our economy.
Orekoya said: â€œThe market performance has nose-dived in recent past due to decline in stock and bond investments. The development has been necessitated by dwindling investorsâ€™ confidence in the capital market. It is pertinent to state that investorsâ€™ confidence must be fully restored to enhance the growth and development of the capital market. To this end, active investor sensitisation and education is essential to further restore investorsâ€™ confidence in the market. In the light of this, we believe the SEC and the NSE need to do more towards investor education to rebuild confidence in the market.â€
He added: â€œOn our part, PEARL Awards Nigeria remains committed to partnering with the regulatory authorities and other stakeholders towards achieving sustainability, growth and deepening of the market. We would also like to use this medium to reiterate our call for a strong collaboration between the market operators and the media towards ensuring that we make the capital market more meaningful and relevant to both the local and foreign investors.â€
Speaking on the awards, he said it identifies and rewards performance, earnings and returns leadership by companies quoted on the stock exchange, using empirical and clearly defined criteria and methodology.
â€œThe awards process is based on verifiable facts and figures, assessed utilising credible and acceptable parameters and tools of data evaluation. This is the uniqueness of the Awards which was instituted in 1995 and endorsed by the apex capital market regulatory authority, SEC in 2003. This year therefore marks, with your support and partnership, 22 years of meritorious service to our father land,â€ he said.
The PEARL Awards boss disclosed the 2017 awards will take place on Sunday, November 26, in Lagos.
â€œThis yearâ€™s edition promises to be an outstanding night of glamour, funfair and celebration of excellence. As witnessed in the recent past, there would be other side attractions that will include exclusive red carpet reception, cocktails and high class executive networking opportunities,â€ he said.