Capital market crucial to our future – Ahmed

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has described the capital market as very crucial to the growth and development of the country.

Mrs Ahmed stated this in a keynote address at the Investing and Capital Market  conference held in Abuja, Thursday.

“We want a vision for a future Nigeria where the majority of Nigerians have been sustainably lifted out of poverty, and have access to fundamental services including education, health care, water supply and sanitation.  A future where all are financially included, with affordable access to financial products and services. A future where we have left no one behind.

“Our capital market is crucial to actualizing this future, and to achieving the sustained, inclusive and equitable socio-economic growth that this Government aims to achieve” she said.

The Minister said the Capital Market allows for the mobilization of long-term savings for investment as well as efficient pricing of financial instruments.

In her remarks, Acting Director General of Securities and Exchange Commission, SEC, Ms. Mary Uduk said lack of good corporate governance has created a lot of issues in the corporate world, adding that such issues are some of the reasons why people are avoiding the capital market.

Uduk said the capital market community has resolved that the issues that led to the 2008/2009 crisis are not allowed to continue.

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