Sanwo-Olu backs CIS’ N5bn fund to build capital market skills

Lagos State Governor, Babajide Sanwo-Olu, has pledged support for the Chartered Institute of Stockbrokers’ (CIS) proposed N5 billion professional development endowment fund, as the Institute steps up efforts to expand investor education and deepen participation in Nigeria’s capital market.

The proposed fund is expected to strengthen professional training and capacity development in the securities industry, while the Institute is also working with the Office of the Vice President on a programme to train 10 million Nigerians in financial literacy and capital market participation.

Sanwo-Olu gave the assurance on Friday, when the President and Chairman of the CIS Council, Fiona Ahimie, led a delegation of the Institute’s principal officers on a courtesy visit to Lagos House, Ikeja.

The Governor’s backing comes amid efforts by capital market stakeholders to broaden retail participation, improve investment awareness and equip professionals with the expertise required to support the growth of the Nigerian financial system.

Sanwo-Olu said the capital market had recorded significant growth in recent years but stressed that wider participation remained critical to unlocking its potential for wealth creation and inclusive economic development.

He observed that many Nigerians were still unfamiliar with investment opportunities beyond meeting their immediate financial needs, underscoring the need for sustained public education on savings, investment and wealth creation.

According to him, his administration is willing to support initiatives that promote financial literacy and develop the professional expertise required to strengthen the market.

The Governor urged the Institute to intensify its financial literacy campaigns and encourage more Nigerians to understand the investment opportunities available in the capital market, noting that improved public awareness could help expand participation and enable individuals to make informed financial decisions.

For the CIS, the proposed endowment fund and the planned nationwide financial literacy programme represent complementary efforts to address two important requirements for market development: a skilled professional workforce and a better-informed investing public.

Speaking during the visit, Ahimie disclosed that the Institute was collaborating with the Office of the Vice President on a programme designed to train 10 million Nigerians in financial literacy and capital market participation.

She said the initiative was expected to improve public understanding of investment opportunities and encourage broader participation, particularly among young Nigerians.

The programme could provide a platform for extending investment education beyond established market participants to individuals who have limited knowledge of the securities market and the range of financial instruments available to them.

However, expanding participation will require sustained education and greater public understanding of investment risks, alongside improved access to appropriate investment channels.

Ahimie also highlighted the importance of stronger collaboration between government and professional institutions in developing skilled practitioners, improving investment awareness and building a more inclusive capital market.

The CIS President’s engagement with the Lagos State Government comes as the Institute prepares for its 30th Annual Conference, scheduled for 4 and 5 November in Lagos.

She said the conference would examine strategies for mobilising capital, advancing economic prosperity and strengthening Nigeria’s global competitiveness.

The conference is expected to provide a platform for discussions on how the capital market can more effectively support economic growth by connecting available funds with businesses and other entities requiring long-term financing.

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Sanwo-Olu also congratulated Ahimie on becoming the first female President of the Institute, describing her emergence as a significant milestone. He urged the new Council to sustain the organisation’s achievements in professionalism, public engagement and capacity development.

Ahimie was accompanied on the visit by the First and Second Vice Presidents of the Institute, Akeem Oyewale and Jude Chiemeka; the Registrar and Chief Executive, Ayorinde Adeonipekun; past presidents; and serving Council members.

The proposed N5 billion fund and the target of reaching 10 million Nigerians place professional development and financial education at the centre of the Institute’s efforts to strengthen the capital market.

Their implementation, however, will be important in determining how effectively the initiatives translate into a larger pool of qualified practitioners, improved investor awareness and broader participation in Nigeria’s investment market.