By Newsshelve Correspondent.
The Capital Market Correspondents Association of Nigeria (CAMCAN) hosted its 2024 annual workshop on December 7, 2024, at the Orchid Hotel in Lekki, Lagos.
The event, themed “Recapitalisation: Bridging The Gap Between Investors and Issuers in the Nigerian Capital Market,” brought together regulators, operators, and company executives to discuss issues affecting the market and Nigeria at large.
In her welcome address, CAMCAN Chairman Chinyere Joel-Nwokeoma emphasized the importance of bridging the gap between investors and issuers in the Nigerian capital market.
She noted that the recent recapitalisation in the banking sector has highlighted the need for a more robust and inclusive capital market.
Joel-Nwokeoma identified four key areas that require attention to bridge the gap between investors and issuers.
These include strengthening corporate governance and risk management practices in banks, enhancing disclosure and transparency requirements for issuers, developing innovative financial instruments that cater to the needs of both investors and issuers, and fostering a culture of collaboration and trust between stakeholders.
The CAMCAN chairman noted that investors seek assurance from both operators and regulators that their investments are secure and will yield returns.
Issuers, on the other hand, require access to capital to fund their growth and expansion plans. The gap between these two stakeholders can be bridged through effective recapitalisation strategies that prioritise transparency, disclosure, and regulatory compliance.
A recent data by the Securities and Exchange Commission indicated that about N1.7 trillion capital was raised by banks through recapitalisation exercise. Some banks are presently raising capital in the market, and more will still access the market in 2025.
In his remarks, NGX Group Plc Chairman, Dr. Umaru Kwairanga, highlighted the critical role of the media in facilitating the dissemination of timely and accurate information that investors can use to make informed decisions.
He noted that the daily publication of the All Share Index and publicity given to all capital market activities by CAMCAN keeps the capital market in the public eye and ensures the market’s sustainability.
Kwairanga emphasized that the NGX Group’s primary role is to serve as a bridge between investors and issuers.
He noted that the Nigerian Exchange has organised Facts Behind the offer ceremonies for most of the banks that have floated rights and public issues.
The Exchange also set up X Rails, a technology platform that enables investors to subscribe to ongoing offers directly from the comfort of their homes and offices.
The NGX Group chairman assured that the group will continue to play a critical role in the recapitalisation exercise, ensuring that banks meet their disclosure requirements promptly and fully.
He emphasized that the group’s efforts are aimed at promoting transparency, disclosure, and regulatory compliance in the capital market.
The workshop featured Johnson Chukwu, Managing Director and Chief Executive Officer of Cowry Asset Management Limited, as the guest speaker, who delivered a lecture on the theme. The event also featured a panel discussion with esteemed experts in the capital market.
The CAMCAN annual workshop is a significant event in the Nigerian capital market calendar, bringing together key sstakeholders.
This year’s event was particularly important, given the recent recapitalisation in the banking sector and the need for a more robust and inclusive capital market.
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