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Capital market contributes to socio-economic growth


Mubo Olasoko

Mubo Olasoko

Mubo Olasoko is a 1990 graduate of the University of Jos. She is a chartered stockbroker who has attended various executive management courses in highly rated educational institutions such as, the Harvard Business School, The Wharton School, London Business School and Columbia University, New York amongst others. She has about 25 years working experience, 15 of which are in the capital market of Nigeria. She told The Guardian her experience in the capital market.

Where was she born and which schools did she attend?
She was born in Kogi State, attended Federal Government College Kano and University of Jos graduating with a Bachelors of Arts Degree

When did the idea of a career in capital market come to you, in fact, what inspired it?
I did not start out with a focus on a career in the capital market, in-fact, I am an arts major and numbers used to be a nightmare to me, but the first job I got after my National Youth Service was in a mortgage bank and every other job I got was in the finance sector. In 2001, I got a job to work as an operations officer in a stockbroking firm, it was a small firm and we had about three stockbrokers. They were smart and professional and everyone in the firm depended upon them for financial analysis of companies to be able to advise clients on investment decisions, it seemed all was about them. The depth of their knowledge particularly intrigued me and I thought to myself, these are humans, I can also learn what they know. I was also inspired by the fact that securities broking is a lifelong career, thus, I registered for, wrote and passed the professional exams.

Why the passion for capital market?
The market allows for rapid development of an economy, because it allows companies raise long-term funds to increase the output in an economy.

As the CEO/Registrar of Meristem Registrars what are the challenges noticed in the Nigerian capital market? Why is that Nigerian companies don’t take advantage of the capital market facilities as desired for development of the economy?
Each company would have its reasons for not accessing the opportunities presented by the capital market, but generally, companies are hesitant to come to the market for the following: Not meeting up with the regulatory standards of being quoted on the Exchange; It is costly being quoted on the Exchange; Meeting up with regulatory demands and The threat of a hostile take over.

How can the capital market help save Nigeria in this recession period?
A capital market is an institution that contributes to the socio-economic growth and development of an economy and it’s also a barometer for measuring performance of the economy. If the economy is down, this will be reflected in the performances of companies and when there is a boom, this also reflects and consequently on the prices of listed securities. To answer your question, this is almost like the case of chicken and egg, which tries to determine which comes first. The economy need the fund and effective allocation of it provided by the capital market, while this is only possible when the economy is doing well, so I will opine that a turnaround in economy activities is critical for the capital market to perform its role effectively.

What has been the challenge of building a career in capital market that is different from what others encounter?
In operating in the capital market, you need to understand that you are dealing with peoples’ investment and the onus of duty of care is placed upon you to ensure that investors don’t lose their hard earned money while making an appreciable return on their investment.

Creating a balance between risk and return for clients is a major challenge, the securities broker is looked upon as an ‘oracle’ that should be able to make accurate projections about the direction of the market which is not humanly possible. The capital market is also highly regulated such that market operators cannot just act in their self-will.

What is it that you love so much about Nigeria and what interests you about the country?
I like the community lifestyle where everyone cares about each other. It is almost impossible to be lonely in Nigeria, unlike other climes where people die of loneliness. One interesting thing about Nigerians is their diehard nature. A Nigerian can almost weather all storms.

Let’s go a bit social, what is fashion to you?
I don’t actually know my fashion sense. I just wear whatever I feel like but it must be comfortable.

What is your favourite fashion piece?
A comfortable fitted dress with 4-inch pump shoes.

Who is your favourite fashion icon?
I don’t have any.

What will you not be caught wearing?
Any dress that makes me uncomfortable being too tight, too short or exposing parts of my body.

Which food do you enjoy most?
Pounded yam and vegetable soup

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