NIGERIA: Operators Link Capital Market Recovery to CMC Retreat

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The recovery and growth in the nation’s capital market has been linked to the effect of the annual Capital Market Committee (CMC) Retreat that was introduced November 2011 by the Director-General of the Securities and Exchange Commission (SEC), Ms. Arunma Oteh.
Although the CMC, which is a body of regulators, operators and other stakeholders usually meet every quarter to discuss issues in the market, Oteh introduced CMC retreat, which provides a robust platform for CMC members and stakeholders outside the market to deliberate on how to move the market forward and grow the economy.
Speaking in Lagos last Friday, Chairman of the Organising Committee of the Third Annual CMC Retreat, Mrs. Oluwatoyin Sanni: “The CMC retreat conceived by the DG of SEC has been very useful to the recent revival of capital market which has risen to over N12 trillion. We as capital market community now speak in one voice and have focus, though we might have issues, but they are resolved within us.”
She added: “It has helped information flow because we are all on the same page. Nobody is guessing and trying to wonder what are the priorities of the capital market this year, where are we likely to be going, what are the committees and so on. Everybody now has a clear knowledge and information about the market.”
Speaking in the same vein, Chairman of Association of Stockbroking Houses of Nigeria (ASHON) and vice chairman of the organising committee, Mr. Emeka Madubuike, said: “The retreat has fostered cohesion and given us a platform to look at the future of the market. It has made engagements  flawless and frictionless and has enabled us to engage with one another, interact with one another and build  all  kind of alliances that are requirement for capital market transactions  because no one group can do it all in the market.”
Meanwhile, Sanni, who is also the President, Association of Corporate Trustees and Managing Director, UBA Trustees, has said plans were being concluded for the third edition.
She disclosed that 2013, which has: “Actualising Nigeria’s Economic Potential” as its theme will be hosted by the Federal Capital Territory (FCT) from November 27 to 30, 2013 in Abuja.
According to her  the retreat will be graced by the  Executive Chairman, SEC of Brazil, Mr. Leonardo  Gomes Pereira; the Hon. Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala ; Senator Bala  Mohammed;  Minister of Power, Professor Chinedu Nebo; Executive Director, Mo Ibrahim Organisation, Mr. Abdoulie Janneh, amongst others.
“We expect a very successful retreat with attendance in excess of last year's 350 participants.  The retreat will afford participants an excellent opportunity to interact with key stakeholders in the capital market; opportunity to engage with and have positive interactions with knowledgeable speakers and participants, both domestic and international; and networking opportunities with other issuers, operators, regulators and other stakeholders. Registration is ongoing online at,” Sanni said.
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