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Group Managing Director of #BGL #Group, Mr. #Albert #Okumagba, has been the Chairman, Planning Committee of the annual national workshop of the Chartered Institute of Stockbrokers (CIS) for the past three years. He spoke to journalists at the end of the 2014 edition of the workshop held in Abuja last week. Goddy Egene was there. Excerpts:
The Nigerian capital market has witnessed significant recovering in past two years. But what is your assessment of investor’s confidence currently in the market?
There is no doubt that investors’ confidence fell considerably during the financial crisis, evidenced by a virtual wiping out of the retail segment of the market. This explains, to a large extent why a handful of institutional investors, mostly foreign dominated the market for a long time. However, confidence has returned to the market as can be seen from the impressive performance of the market in recent years. The sweeping sanitisation of the financial services sector and the improved reporting standards and corporate governance has also helped in this regard. This is also evidenced in the increased participation of the domestic investors in the market as foreign portfolio investors reduce their holdings.
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Source: #ThisDayLive
The Nigerian capital market has witnessed significant recovering in past two years. But what is your assessment of investor’s confidence currently in the market?
There is no doubt that investors’ confidence fell considerably during the financial crisis, evidenced by a virtual wiping out of the retail segment of the market. This explains, to a large extent why a handful of institutional investors, mostly foreign dominated the market for a long time. However, confidence has returned to the market as can be seen from the impressive performance of the market in recent years. The sweeping sanitisation of the financial services sector and the improved reporting standards and corporate governance has also helped in this regard. This is also evidenced in the increased participation of the domestic investors in the market as foreign portfolio investors reduce their holdings.
Click here to read more
Source: #ThisDayLive
