The Institute of Capital Market Registrars (ICMR) said the institute would take advantage of digital technology to improve the accessibility of information and improve the participation of retailers in the capital market.
ICMR Chairman and Board Chairman Oluseyi Owoturo said the move had become imperative given the proliferation of illegal investment firms in the country’s capital market and the need to protect investors from antics of fraudsters, especially the promoters of Ponzi schemes.
He said that with improved technology, information on how to invest in the stock market, benefits and other market dynamics would be made available to existing and potential investors.
“Even with over four million investors in the capital market versus 50.9 million BVN holders in the banking system, potential investors continued to fall prey to Ponzi schemes.
“There are indeed huge opportunities to reposition the capital market by leveraging digital technology to make the market easily accessible, address inefficiencies affecting the investor experience and improve investor confidence. “
“Now is the time to harness the enormous potential of the Nigerian tech space to change the narrative of the capital market, create wealth for investors and provide finance for sustainable growth,” said Owoturo.
He said the next annual conference is scheduled for November 27, 2012, with the theme: “Reinventing the Nigerian Capital Market for Growth: The Digital Technology Approach.
“The aim is to ensure that the new mixes of talent and technology bring breakthroughs and added value in terms of investor experience and operational efficiency. “
“We expect digital technology to generate positive results by streamlining processes, leveraging data and shaping whole new ways of doing business. “
“It is expected that the outcome of this conference will reposition the Nigerian capital market for growth by creating a capital market attractive to investors and capable of meeting long-term investment needs in the private and public sectors of the country. economy. “
“We are confident that by addressing the scourge of unclaimed dividends, the need for shared market infrastructure and the changing role of regulators, the conference speech will galvanize the drive to reposition the Nigerian capital market for a sustainable growth, ”said Owoturo.