Experts Urge Reforms for Nigeria's Capital Market Growth

At the 30th Anniversary Symposium of the Association of Issuing Houses of Nigeria (AIHN) in Lagos, financial market experts discussed the necessity for Nigeria's capital market to undergo regulatory reforms, improve access to long-term financing for small and medium-sized enterprises (SMEs), and adopt digital innovations. Dr Ike Chioke, Group Managing Director of Afrinvest West Africa Limited, highlighted the importance of regulatory reforms for market development and called for collaboration between regulators and market operators.

He stressed the need for SMEs to formalize their operations and improve corporate governance to attract investment. Chioke noted that current market conditions allow medium-sized issuers to raise funds between N10 billion and N50 billion.

Mrs Ozofu ‘Latunde Ogiemudia, Deputy Managing Director of Udo Udoma & Belo-Osagie, pointed out the long gaps between capital-market legislative reforms, citing the 18-year interval between the 2007 Act and the 2025 Investments and Securities Act. Mr Abiodun Akinjayeju, Managing Director/CEO of FundQuest Financial Services, discussed the need for stronger capital requirements for market operators.