Stakeholders seek secretaries, registrars’ support for effective capital market development
To build a robust capital market capable of supporting sustainable economic growth, operators has stressed the need for company secretaries and registrars, to establish formidable partnership to boost investors’ confidence through sound corporate governance practice, and improved investors’ engagement.
In collaboration with other market players, they argued that effective partnership between company secretaries and registrars will play a significant role in ensuring that listed companies are more compliant, profitable and transparent.
This, they also noted will aid regulatory effort in developing the Nigerian capital market, while maintaining investors’ confidence and deepening the country’s bourse and improving its capacity to support long-term economic growth.
While company secretaries play the crucial role in ensuring companies complied with corporate governance code in order to protect shareholders’ fund, the registrars serve as an interface between the firm and its shareholders, and the regulators.
Speaking yesterday at a forum organised by the Institute of Chartered Institute of Secretaries and Administrators of Nigeria (ICSAN), the Managing Director, African Prudential Registrar’s Plc, Peter Ashade, said the need to set the economy on the path to sustainable growth and development becomes compelling, especially as the economy recovers from recession.
He hinged on the necessity for critical long-term investment by both public and private players to boost Nigeria’s productive capacity.The Chairman of the occasion, Asue Ighadalo, in his address, called on capital market regulators to not only see themselves as gatekeepers, but also as market enablers, enhancers and developers.
Ighadalo, who spoke on the theme, “Company Secretaries and Registrars: A Functional Partnership for Capital Market Development,” called on the Federal Government to redirect its efforts at ensuring that only market enhancers, who understand and align with its economic policies should man the regulatory agencies in order to achieve desired objectives.
According to Ighodalo, a properly-run capital market is an indicator and a major driver of economic growth and sustainable development, adding that only well groomed companies, functioning optimally, can operate successfully and profitably and also contribute to the development of the nation’s capital market.
Earlier, the Registrar, ICSAN, Nkechi Onyenso, said the forum is conceived as an avenue to expose participants to modern day practices, and practical solution to problems associated with company secretarial practices and related issues.She added that the theme showed the tendency of the Institute to always engage contemporary issues with a view to aggregating positive and pragmatic views for national growth and development.
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