They also re-emphasised the need for the regulators to improve their oversight functions, especially in the financial sector, with particular reference to the capital market. The experts argued that the existence of a functional governmental institutions and improved regulations would help attract more Foreign Direct Investment (FDI) into the country and boost the capital market. Specifically, the Managing Director of Cowry Asset Management, Johnson Chukwu, in an interview with The Guardian explained that weak institutions have resulted to abuse of operations in the various segments of the economy. Most of them do not have the competence to carry out the functions the agencies need to execute. The capital market regulators must do much-more to grow the number of retail investors and in the process, attract more investible capital into the market,” he said.
Source: The Guardian April 16, 2018 03:11 UTC