Prof. Uche Uwaleke, a professor of Capital Market, has appealed to the Securities and Exchange Commission (SEC) to collaborate with telecommunication firms to facilitate access to capital market products.
Uwaleke made the appeal during a webinar with the theme ‘Repositioning the Nigerian Capital Market for Sustainability, Growth and Continental Leadership’ in Abuja on Friday.
He explained that the collaboration which would also include banks and exchanges would help people buy securities through their mobile phones.
The expert urged SEC with other stakeholders to increase public enlightenment of capital market in the country.
Uwaleke suggested that political and macroeconomic stability as well as adequate legal framework and flexible regulatory environment would help reposition the market.
According to him, government has a major role to play in repositioning the Nigerian Capital Market.
“Government can use mandatory measures to stimulate securities market especially where moral suasion has failed.
“Government can also issue more infrastructure bonds such as Sukuk and green bonds.
“Tax break should be granted to newly quoted companies for a fixed period of time like one or two years,” he said.
Uwaleke urged the Central Bank of Nigeria (CBN) to deploy policies that would boost demand for capital market securities.
He said the policies could include fostering low interest rate environment, stabilising exchange rate and controlling inflation.
The expert also called on market operators to expand product offering by leveraging Fintech to innovate, structure products and delivery systems.
The webinar was organised by Rham Durham Consulting Limited.