By Kayode Tokede
Foremost merchant bank in Nigeria; Coronation Merchant Bank Limited has demonstrated its commitment to the growth and development of the capital market and Nigerian economy through its sponsorship of the 5th edition of the NSE-LSE Dual Listing Conference which held recently in Lagos, Nigeria.
The event which was themed “Attracting Global Capital to Drive Nigeria’s Economic Reforms and Sustainable Growth Development” had in attendance The Honourable Minister for Power, Works and Housing, Mr Babatunde Fashola; CEO of the Nigerian Stock Exchange, Mr Oscar Onyema; The Director Generals of the Bureau of Public Enterprises, Debt Management Office, Securities & Exchange Commission and the National Pension Commission; representatives of the London Stock Exchange Group, Heads of Industries amongst other delegates.
Commenting on the decision to sponsor the conference, the Managing Director/Chief Executive Officer of Coronation Merchant Bank Limited, Mr. Abu Jimoh, stated that we are delighted to be the official sponsor for the NSE-LSE dual listing conference. The conference provided timely perspective and insights into the role of financial markets in facilitating economic growth in sub-Saharan Africa and it has generated a lot of excitement amongst the attendees. The provision of affordable, longer term financing is critical for sustainable economic growth and its absence is one of the key challenges facing corporations in Nigeria. Coronation MB was established to fill the gap in a long-underserved market segment, seeking to address the need for long term capital across key sectors of the economy. We will continue to focus on bringing world class advisory services, accompanied by innovative products and services to the sub region; whilst remaining committed to our values of strong governance and transparency.
Speaking at the conference, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON, said that, “this event comes at a time when Nigeria has turned a corner from its worst recession in over two decades to have the best performing stock Exchange in Africa and third best performing globally. I have no doubt that the insightful deliberations at this conference will drive the level of engagement and idea generation that will solidify and strengthen our capital markets partnership and reinforce the drive of Federal, States and Corporates in accessing the deep pool of capital inherent in the Nigerian capital market and on the London Bourse. He further added that, “The recent dual listing of the first-ever FGN Sovereign FX denominated $1 billion Eurobond on The Nigerian Stock Exchange and London Stock Exchange gives credence to the successful partnership between the two exchanges”.
Nikhil Rathi, Chief Executive Officer, London Stock Exchange Plc said, “The fifth NSE-London Stock Exchange Dual Listing Conference is a reflection of the strength of the partnership between our two exchanges and the global investment community’s strong desire to be a part of the Nigeria story. As the world’s most international exchange, London Stock Exchange looks forward to building on the success of existing dual listings in Nigeria and London and partnering with the NSE to showcase the rapid developments in Nigerian capital markets and the Nigerian economy.”
Driven by its vision of becoming Africa’s premier investment Bank and with an asset base of over N130bn, the Banking group is certain to leverage its privileged direction by some of Nigeria’s individuals who excelled and rose to the top of merchant banking sector at its height of excellence to become the industry model for risk management, corporate governance and responsible business practices. Coronation Merchant Bank’s quest for industry distinction is evident in its recently unveiled corporate identity which has been designed to communicate the Group’s vision, ambition and inner strength. The Group offers investment and corporate banking, private banking/wealth management and global markets/treasury services to its diverse clients. It also offers securities trading/brokerage, asset management and trustees services via its subsidiaries; Coronation Securities Limited, Coronation Asset Management Limited respectively.
The Bank has two branches located in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.