Nigerias capital market: Roadmap for recovery (1)

Joseph Stiglitz, Nobel laureate in economics and a friend to Nigeria, places great emphasis on the role of capital markets for developing economies like ours. He reminds us thus: If capital is at the heart of capitalism, then well-functioning capital markets are at the heart of a well-functioning capitalist economy. Resuscitation and restructuring of the capital market is therefore sine qua non so that the market for long-term funds can be fluidly channelled toward the projects, sectors and companies which will help us unravel the developmental challenges of infrastructure deficits, economic development, unemployment, etc. We have sought to highlight specific thrusts for action which will help us all join hands as firms, investors (retail and institutional), clients, regulators, banks, government, etc., to bring about recovery and sustained development of the capital market.
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