A former President of the Nigerian Exchange, Dr Goodie Ibru, has tasked the Chartered Institute of Stockbrokers (CIS) to get the government to review the land tenure laws in Nigeria to encourage investment in real estate.
Ibru made the call at the Institute’s 30th-anniversary celebration where he was conferred with an honourary fellowship of the CIS alongside another past President of the NGX, Alhaji Aliko Mohammed.
They received the honourary fellowship in recognition of their contributions to Nigeria’s economic growth and development.
Benefits of equity investment: He advocated the need for investment in the equity market, saying the average return in Nigeria and Africa is 30% and 35% respectively per annum.
” In today’s realities, the best investment is in equity. The average return in Nigeria and Africa is 30 % and 35 % per annum which is very attractive. A good equity market will encourage the government to partner with the Private Sector to undertake infrastructure projects under a Public Private Policy Programme. Apart from the equity market, I had in another forum challenged the Institute to take a look at the hospitality and real estate sectors. There is a deficit of about 20 million housing units. The Institute can creatively introduce new products which can be used to fund housing. The Institute should be in the Vanguard of in getting the government to review the land tenure laws to encourage investment in real estate,” says Ibru.
Contribution of CIS: The Institute’s President, Mr Oluwole Adeosun explained that the CIS had played a pivotal role in the growth and development of the Nigerian capital market in the last 30 years including manpower training and certification in line with the global best practices.
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“A few years ago, CIS introduced both the Diploma in Securities and Investment (DSI) scheme and the Stand-Alone Certification scheme which now enables our students to specialize in any capital market field of their choice, if they do not wish to go through the entire Professional Examination syllabus. These steps were stepping stones for upgrading the profile of the Institute to bring it to par with the best in the world. In the next few years, a lot of ground-breaking initiatives of the Institute will unfold, to push the Institute further up as the professional body of choice for Nigerian youths,” says Adeosun.