The Association of Issuing Houses of Nigeria (AIHN) has lauded the resilience of Nigerian companies, which, despite economic headwinds, continue to play a big role in the financial markets.

Speaking during the AIHN’s yearly Investment Banking Awards in Lagos, the President, Kemi Awodein, noted that the tough economic conditions in 2024 did not deter companies seeking capital for expansion, mergers and acquisitions, as well as debt issuances.

The award ceremony was an opportunity for AIHN members to celebrate excellence within Nigeria’s capital market ecosystem, while also unveiling the association’s new executive committee members.

The gathering brought together leading issuing houses, investment banking professionals, regulators, and policymakers to review the year’s activities, reward outstanding performance, and reinforce the industry’s commitment to innovation, professionalism, and value creation.

Speaking to journalists at the event, Awodein said the awards reflect the resilience of the Nigerian economy despite the notable challenges it faced in 2024.

“Despite the headwinds we saw in 2024, companies still raised capital, sought partners for M&A transactions and issued debts. This shows the economy was tottering, but confidence remained. These awards underscore that commitment,” Awodein stated.

Looking ahead, she projected heightened activity in the equity capital market, driven by recapitalisation exercises across the banking, insurance, and pension sectors.

Awodein also urged more Nigerians to embrace regulated investment products to curb rising losses to Ponzi schemes.

“There is capital in Nigeria looking for a home. Unfortunately, Ponzi schemes exploit this. We must bring more investors into structured, well-governed, traditional investment products,” she added.

Representing Lagos State Governor Babajide Sanwo-Olu, Commissioner for Finance, Abayomi Oluyomi, commended AIHN for consistently promoting excellence and strengthening investor confidence.

“Investment banking plays a critical role in shaping the future of our economy. Each deal closed contributes to national development. Lagos remains open for business and committed to improving the ease of doing business, infrastructure and regulatory collaboration,” he said.

He encouraged investment banks to deepen partnerships with local businesses, fund startups, support sustainable projects and design products that expand opportunities for Nigerian youths.

Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, described the event as a celebration of the pivotal work issuing houses play in capital formation.

He highlighted the impact of digital platforms on market participation, noting that NGX’s digital offering dramatically boosted retail investor numbers from under 300,000 to nearly 850,000.

“Year 2024 was a defining year. Digitalisation shortened issuance timelines from months to weeks and enabled wider participation, including the Diaspora. Celebrating the institutions driving this transformation is essential,” he said.

Chiemeka also welcomed the Securities and Exchange Commission’s move towards securitisation and municipal bonds, saying it would deepen the capital market, diversify available asset classes, and enhance long-term financing options for corporates and sub-nationals.

The event concluded with renewed commitments to deepen Nigeria’s capital market, promote investor protection and drive economic growth through innovation, transparency and collaboration.

In this year’s Investment Banking Awards, Chapel Hill Denham Advisory Limited won the Best Public Sector Debt Issuance House of the Year, while FCMB Capital Markets Limited won the Best Corporate Bond House of the Year. The Best Commercial Paper House of the Year went to Stanbic IBTC Capital Limited, while the Best DCM House of the Year went to Chapel Hill Denham Advisory Limited.

The Best Equity Deal of the Year went to Nigerian Breweries Plc Rights Issue, advised by Vetiva Advisory Services Limited (Transaction Lead) and Stanbic IBTC Capital Limited.

The Equity Listing of the Year award was presented to Aradel Holdings Plc for its listing by introduction on the NGX, jointly advised by Chapel Hill Denham Advisory Limited and Stanbic IBTC Capital Limited.

Best Equity House for the Year was won by Chapel Hill Denham Advisory Limited; Best M&A Deal of the Year was won by the acquisition of ARM Pensions Managers Limited by Access Holdings Plc – advised by Coronation Merchant Bank Limited.

The Best M&A House for the Year went to Coronation Merchant Bank Limited; Most Prolific Issuing House of the Year was won by Coronation Merchant Bank Limited; Iron Global Markets Limited won Prodigy Firm of the Year.

Likewise, Innovative Issuance of the Year was awarded to United Capital Plc (Transaction Lead), Meristem Capital Limited, Stanbic IBTC Capital Limited, Iron Global Markets Limited, Vetiva Advisory Services Limited, and Constant Capital, while Chapel Hill Denham Advisory Limited won Best Investment Bank of the Year.