Sanwo-Olu endorses CIS N5bn endowment fund, highlights capital market’s role in infrastructure financing

Lagos State Governor, Babajide Sanwo-Olu, has endorsed the N5 billion Endowment Fund launched by the Chartered Institute of Stockbrokers (CIS), describing it as an important initiative to advance financial literacy and strengthen the professional capacity of capital market operators to meet global standards.

Sanwo-Olu, who gave the endorsement at the Institute’s 30th Annual Stockbrokers’ Conference in Lagos, also reaffirmed the importance of the capital market in mobilising long-term funds for infrastructure development, citing Lagos State’s experience in utilising the market to finance critical projects.

The Governor, himself a stockbroker, commended the CIS leadership for its innovative initiatives and commitment to professional development, noting that the Institute had continued to contribute to the growth and international competitiveness of Nigeria’s capital market.

The N5 billion Endowment Fund is targeted at promoting financial literacy across Nigeria and strengthening the professional capabilities of stockbrokers and other market operators. It will support continuous training, skills development and institutional capacity building, equipping practitioners with the requisite knowledge and expertise to operate effectively in an increasingly sophisticated global financial environment.

The Governor’s endorsement aligns with the central message of the conference, themed “From Capital Mobilised to Prosperity Realised: Financing Nigeria’s Next Era of Growth and Global Competitiveness.”

In her address, the first female President and 14th Chairman of the Governing Council of CIS, Dr Fiona Ahimie, challenged capital market stakeholders to look beyond the volume of funds raised and assess the market’s contribution to tangible economic outcomes.

She said the effectiveness of the capital market should ultimately be measured by its impact on productivity, industrial expansion, employment generation, wealth creation and improved living standards.

According to Ahimie, mobilising capital is only the beginning of the development process; the real value lies in deploying such resources efficiently into productive enterprises, infrastructure and other investments capable of driving sustainable economic growth.

She stressed that Nigeria’s vast economic potential, including its natural resources, large domestic market, dynamic private sector and youthful population, could only translate into prosperity through access to long-term capital, strong institutions and sustained investor confidence.

The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, highlighted the transformative role of technology in capital raising and the operations of securities dealers. He disclosed that the Commission was deploying sophisticated technological solutions to strengthen market surveillance, enhance regulatory oversight and reinforce investor confidence.

The conference attracted goodwill messages from prominent public-sector officials and professional institutions, including Vice President Kashim Shettima, represented by the Economic Adviser to the President, Dr Tope Fasua; the Minister of Finance and Coordinating Minister of the Economy, Dr Taiwo Oyedele; the Director-General of the Debt Management Office (DMO),  Patience Oniha; and the Director-General of the National Pension Commission (PenCom),  Omolola Oloworaran and others.

Also present were the Chairman of the House of Representatives Committee on Capital Markets and Institutions, Hon. Solomon Bob, Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga; Group Managing Director of NGX Group , Temi Popoola; and Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON),  Sehinde Adenagbe, among other stakeholders.