The federal government has again reiterated its commitment towards building a vibrant capital market that would contribute to the growth and development of the country and can compare with similar markets anywhere in the world.
This was disclosed by the Vice President, Prof. Yemi Osinbajo when the members of the Capital Market Master Plan Implementation Council, CAMMIC led by its Chairman, Mr. Olutola Mobolurin visited him in Abuja, Tuesday.
Prof. Osinbajo said that capital markets play a central role in the development of the economy through mobilisation of long term savings for investment, adding that the present administration is interested in deepening the capital market which would in turn lead to a deepening of the financial market.
The Vice President said the government is concerned about the volatility of the capital market and is ready to work with CAMMIC to ensure that the market is stable.
According to him, “There is no way we can deepen our financial system without a vibrant capital market. We know we need foreign investors in our market, but most importantly we need to grow our domestic investors that are here to stay. I think we can do a lot to ensure that our capital market is better than what it is now”.
Speaking earlier, the Chairman of CAMMIC, Mr. Olutola Mobolurin expressed the need for Government to pay more attention to the capital market being the Centre of the economy as regulation of the market is paramount because the industry relies on confidence of investors
In her remarks, Acting Director General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk said the Commission and the market are working to make the capital market one of the drivers of economic growth and development.
