THE Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru has faulted the recent market operators’ demand for intervention fund from the federal government.

Operators under the aegies of the Chartered Institute of stock brokers (CIS), Association of Stockbroking Houses of Nigeria (ASHON) and Association of Issuing Houses of Nigeria (AIHN) had recently stressed the need for government to create an intervention window of about N200 billion to shore up market liquidity

The N200 billion intervention funds, which would be made available by the Central Bank of Nigeria (CBN) through the market makers according to them, would help stabilise the market and hedge against external shock.

Specifically, the Acting President, CIS, Oluwaseyi Abe explained that the market would not record any reasonable level of recovery if intervention measures are not put place to check the unprecedented lull witnessed in the past few years.

He pointed out that the market has depreciated by 21.25 per cent since the beginning of the year due to sell pressure and investors’ apathy.

“In other jurisdiction, government does one form of intervention or the other to stabilise the market.