A Review of the Nigerian Energy Industry

Broker attributes improved stock market to high expectations from CBN policies

Nigerian-Stock-Exchange06 June 2014, Lagos – A former Chairman of Chartered Institute of Stock Brokers, Mr Ariyo Olushekum, on Friday attributed the improved trend in the equities market to anticipated favourable stock market policies from the new CBN governor.

Olushekum disclosed that investors anticipated that the new CBN Governor, Mr Godwin Emefiele, would enforce good policies that would impact positively on the market.

He said that the expectations of good returns from the market motivated investors to invest and participate more actively in stock transactions.

According to him, the market is already experiencing growth and good policy from the new CBN governor will be an added advantage to the growth of the market.

If Emefiele will streamline money market policies, the effect on the capital market will be positive because banks are major factors in market activities, he said.

He said that the governor could consolidate existing macro-economic policies as such policies were essential for economic growth.

Olushekum urged the governor to pursue policies that would encourage lending, create employment and help the growth of the real sector.

He also advised the governor to ensure that the high expectations of the people, trust as well as the confidence investors had on his administration would be actualised.

Olushekum said that the CBN governor should focus on stabilising the nation’s currency to restore the confidence of foreign investors in the market.

“I believe that if the governor will pursue policies that would encourage lending, create employment and help the growth of the real sector, the stock market will sustain growth even till the end of the year,” he said. *NAN

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