The Capital Market Correspondents Association of Nigeria (CAMCAN) recently hosted its highly anticipated 2024 annual workshop, serving as a dynamic platform for insightful discussions and solution-driven engagements. The event brought together key stakeholders, experts, and industry leaders to address pressing challenges within Nigeria’s capital market and its broader economic landscape.
With a focus on fostering innovation and collaboration, the workshop emphasized actionable strategies to enhance market resilience, drive economic growth, and unlock opportunities for sustainable development. CAMCAN’s commitment to knowledge sharing and thought leadership continues to position the forum as a catalyst for positive change in Nigeria’s financial ecosystem.
The Capital Market Correspondents Association of Nigeria (CAMCAN) held its 2024 annual workshop on December 7-8 at Orchid Hotels, Ajah, Lagos, focusing on the theme: “Banks’ Recapitalisation: Bridging the Gap Between Investors and Issuers in the Nigerian Capital Market.”
The two-day event served as a crucial platform for stakeholders to explore innovative solutions to the challenges of recapitalization while fostering stronger connections between investors and issuers. Through thought-provoking sessions and expert insights, the workshop highlighted pathways to enhance market efficiency and drive sustainable growth in Nigeria’s financial sector.
The workshop’s theme underscored the urgent need for collective action to fortify Nigeria’s financial ecosystem in the face of persistent economic challenges. By fostering collaboration among key stakeholders, the discussions aimed to chart a course toward resilience, innovation, and sustainable growth in the capital market.
The Chairman of the Capital Market Correspondents Association of Nigeria (CAMCAN), Mrs. Chinyere Joel-Nwokeoma, highlighted the significance of the association’s workshop, emphasizing its far-reaching benefits for the Nigerian populace. According to her, the event was strategically designed to deepen public understanding of capital market operations and their impact on economic growth.
Mrs. Joel-Nwokeoma explained that the workshop provided a platform for stakeholders to exchange ideas, address pressing issues, and foster financial literacy. By equipping participants with critical knowledge, the initiative aims to empower Nigerians to make informed investment decisions and actively participate in the nation’s economic transformation.
She further reiterated CAMCAN’s commitment to driving awareness and building confidence in the capital market, noting that such engagements play a pivotal role in enhancing transparency, boosting investor trust, and accelerating national development.
Alhaji Umaru Kwairanga, Chairman of the Nigerian Exchange Group Plc., presided over a pivotal workshop that brought together industry leaders and stakeholders. The event featured Mr. Johnson Chukwu, Managing Director and CEO of Cowry Asset Management, as the distinguished guest speaker. The workshop served as a platform for insightful discussions on advancing financial strategies and market development, with both leaders providing expert guidance and actionable recommendations to drive growth in the Nigerian economy.
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PROTOCOL:-
I welcome you all to the 2024 Workshop of the Capital Markets Correspondents Association of Nigeria (CAMCAN).
The media, through CAMCAN, plays a critical role in the capital market by facilitating the dissemination of timely and accurate information that investors can use to make informed decisions. The daily publication of the All Share Index and publicity given to all capital market activities by CAMCAN keeps the Capital Market in the public eye and ensures the markets sustainability. With programmes like today’s, CAMCAN is also encouraging robust discussion on contemporary financial issues and helping to improve the work of regulators and operators in the Capital Market.
Today’s Workshop has the theme, Recapitalisation: Bridging the Gap between investors and issuers and this is very topical given that we are only halfway through the banking recapitalisation mandated by the Central Bank of Nigeria. I believe the lecture to be delivered by our guest speaker, Mr Johnson Chukwu, the Managing Director and Chief Executive Officer of Cowry Asset Management Limited and the discussions by our esteemed panel will help to throw more insights into what we have done so far in the recapitalisation exercise, shortcomings if any, and what we can do better in the coming year and beyond.
Let me say that at the NGX Group, our primary role is to serve as a bridge between investors and issuers and we have been doing that in the banking recapitalisation exercise in various ways. The Nigerian Exchange has organised Facts Behind the offer ceremonies for most of the banks that have floated rights and public issues. At those ceremonies, the issuers are required to outline their plans for the capital they intend to raise and answer very relevant questions from CAMCAN and investors.
We at NGX also set up X Rails which is a technology platform to enable investors subscribe to ongoing offers directly from the comfort of their homes and offices without needing to fill paper forms or battle through traffic in order to go to the offices of financial intermediaries. After the offers are concluded, the Nigerian Exchange will ensure that the banks meet their disclosure requirements promptly and fully so that investors are kept abreast of how their monies are being used.
So the NGX Group is one of those at the forefront of actualizing the theme of today and we will continue to carry out that role for the benefit of the investors, the market and the Nigerian economy.
Having touched briefly on NGX Group’s role in the recapitalisation, let me invite the speakers and discussants for the day to give a broader view of the topic. I believe It will be a lively and enlightening conversation.
I thank the organizers for the work they have put in to make the workshop a reality and thank you all for making out time to attend.
Do enjoy the event.
Alh (Dr) Umaru Kwairanga
Chairman
NGX Group Plc.
