Reps move to broaden capital market coverage | Dailytrust

Reps move to broaden capital market coverage

House of Representatives
House of Representatives

The House of Representatives has passed a bill for a second reading to broaden the coverage of Nigeria’s capital market through wider participation of entities that were hitherto excluded.

It passed the second reading at the plenary on Wednesday.

The bill sponsored by Benjamin Kalu (APC, Abia) seeks to establish the Chartered Institute of Cooperatives and Social Enterprise Management.

Federal projects: 24 states refunded N477bn

FEC approves N51bn for contract reviews, refund to Yobe

Presenting his lead debate, Kalu said, it also seeks to empower cooperatives and social enterprises by broadening the coverage base of Nigeria’s capital market.

According to him, it will achieve the objective through joint investments, in an all-inclusive participation that whittles down systemic shocks that are common with less diversified structures within the stock market.

Kalu said it will empower cooperatives and social enterprises through access to and use of financial market instruments for long-term investments, especially in the dilution of costs of capital for cheaper financial costs of operations.

 

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410