Osinbajo, Dangote lead discussion on capital market legislation

Vice-President Yemi Osinbajo would on June 6 lead discussion on ways to realise full potential of Nigeria’s economy through better legislation for the capital market in the country.

Dangote Group President, Alhaji Aliko Dangote, is expected as chairman at the two-day forum, organised by the National Assembly and would have President of the Senate, Dr Bukola Saraki and House of Representatives’ Speaker, Mr Yakubu Dogara, as hosts.

Also expected as co-chairman at the event where Ministers of Finance, Budget and National Planning, and Justice would deliver goodwill messages, is President, National Council, Nigeria Stock Exchange, Mr Aigboje Aig-Imoukhuede.

The theme of the stakeholders’ forum which will hold at NAF Conference Centre is “Realising the Full Potential of the Nigerian Economy through Proactive Capital Market Legislation.’’

The aim of the forum, according to the programme released to the News Agency of Nigeria (NAN) in Abuja, is to intimate stakeholders of the 10-year capital market master plan of 2015 to 2025.

The master plan is expected to aid legislators to amend areas in existing legislation that could limit or undermine the growth of the capital market and its contributions to the economy.

The meeting will provide a platform for key stakeholders to critically examine and identify areas requiring focused debate and legislative work that would enhance early achievements of the recommendations of the capital market master plan.

The forum is expected to assure the financial community of a paradigm shift towards total commitment to the pursuit of enabling the capital market to realise its full potential through effective and efficient legislation.

Objectives of the forum include bringing together leaders of thought, financial market regulators, capital market experts, together with the executive and legislative arms of government to talk on improved legislation for the market.

Discussions will centre on opportunities and risks of investing pension funds in infrastructural development, mobilising capital market financing for Nigeria’s economic growth and demutualising the Nigerian Stock Exchange, among others.

Speakers at the event who are experts on economic issues are Bismark Rewane, Mounir Gwarzo, Director-General, Securities and Exchange Commission (SEC); Dr Chinelo Anohu-Amazu, D-G, National Pension Commission and Mr Tony Elumelu, Chairman, Heirs Holdings.

Others include Dr Babatunde Fowler, Chairman, Federal Inland Revenue Service (FIRS); Mrs Elizabeth Uwaifo, Partner, Radix Legal and Consulting (UK); MrOscar Onyema, Cheif Executive Officer, Nigerain Stock Exchange and Prof. Koyinsola Ajayi, Managing Partner, Olaniwun Ajayi Ltd.

Other dignitaries expected at the event include Power, Works and Husing Minister, Mr Babatunde Fashola; Majority Leader, House of Representatives, Femi Gbajabiamila; Chairman, Senate Committee on Capital Market and Institutions, Sen. Rafiu Adebayo.

At the end of the forum, participants are expected to make recommendations to the Federal Government on diversification of funding sources and ensuring transparency and accountability in financial transactions.