Capital market registrars task investors on proper identity management
The Institute of Capital Market Registrars (ICMR) has stressed the need for entrench proper identity management mechanism in the nation’s capital market to boost investment.
The President & Chairman of Council of the Institute, Mr Oluseyi Owoturo, in a statement in Lagos said proper identification of existing investors was necessary to reduce problems associated with identity theft and improve market confidence.
Identity theft is the deliberate use of someone else’s identity, usually as a method to gain financial advantage or obtain credit and other benefits in the other person’s name, and perhaps to the other person’s disadvantage or loss.
As part of efforts to get rid off the anomaly in the market, Owoturo said that issues on proper identification would take centre stage at the ICMR’s 2022 annual conference.
Owoturo disclosed that the conference would likely raise the issue of provision of national identification for all financial transactions.
He added that the need for further coordination between agencies in the capital market would be r-rayed at the annual conference.
Owoturo said the conference with the theme: “Sustainability of the Nigerian Capital Market as a Catalyst for Economic Growth and Prosperity,” would hold at Eko Hotels & Suites on Dec. 10.
He said that Engr. Aliu Azeez Abubakar, the Director-General/Chief Executive Officer of National Identity Management Commission (NIMC) and Sir Ademola Aladekomo, the Chairman of Chams Plc would speak on “Tackling the Identity Management Issues in the Nigerian Capital Market.”
Owoturo added that the Chief Executive Officer, NGX Exchange Ltd., Mr Temi Popoola, would speak on the “Role of Digital Technology in the Nigerian capital market.
According to him, renowned management consultant, Dr Abiodun Adedipe, Principal Partner of Biodun Adedipe Associates, is expected to deliver the keynote address.