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Securities Market: Stockbrokers’ Institute Seeks Support from CBN
(Ovichnews Nigeria) - The Nigerian Stockbrokers' Institute (NSI) has reached out to the Central Bank of Nigeria (CBN) seeking support and collaboration to enhance the efficiency and development of the securities market in the country.
As key stakeholders in the financial industry, stockbrokers play a crucial role in facilitating trades, managing investments, and ensuring the smooth functioning of the capital markets. The NSI, representing the professional interests of stockbrokers and investment practitioners in Nigeria, aims to strengthen the regulatory framework, promote market integrity, and drive innovation in the securities market. By engaging with the CBN, the institute seeks to leverage the expertise and resources of the central bank to address key challenges and opportunities facing the securities industry. In a letter addressed to the Governor of the CBN, the NSI highlighted the importance of collaboration between regulatory bodies, industry associations, and market participants to foster a vibrant and resilient securities market. The institute emphasized the need for cohesive efforts to enhance market transparency, investor protection, and regulatory compliance to build trust and confidence among market participants. The NSI also stressed the importance of capacity building and professional development programs to enhance the skills and competencies of stockbrokers and investment professionals in line with global best practices. By promoting continuous learning and training initiatives, the institute aims to elevate the standards of professionalism and ethical conduct in the securities market, ultimately benefiting investors and market participants. Furthermore, the NSI expressed its commitment to promoting sustainable growth and innovation in the securities market through collaboration with regulatory authorities and industry partners. By fostering a conducive regulatory environment and implementing industry-led initiatives, the institute seeks to drive market efficiency, liquidity, and investor confidence, contributing to the overall development of the Nigerian capital markets. The collaboration between the NSI and the CBN underscores the importance of regulatory coordination and partnership in strengthening the securities market infrastructure and promoting financial stability. By working together towards common objectives, regulatory authorities and industry stakeholders can enhance market resilience, mitigate risks, and unlock new opportunities for growth and investment in the securities market. As the securities market continues to evolve and adapt to changing market dynamics, the collaboration between the NSI and the CBN reflects a shared commitment to driving innovation, enhancing market integrity, and safeguarding the interests of investors.
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