The Association of Stockbroking Houses of Nigeria has intensified its efforts towards attracting more investment into the Nigerian capital market.

Specifically, the association said that it would concentrate on retail investors, especially those who fled the market in the wake of the crises in 2008.

The Chairman, ASHON, Mr. Emeka Madubuike, stated this at a press briefing in Lagos, which was also to announce its forthcoming inaugural Capital Market Night.

He said that the association had been involved in various interactions with major stakeholders in the capital market on how to sustain the growing interest of retail investors in the market.

He said, “Since stockbrokers are the front runners of the market and the major interface between the investors and the market, we as an association have decided to come together to seek ways to increase investor-confidence in the market. We will be involved in various investor education schemes to allow investors to become more aware of the happenings in the market.

“We have done a lot in this regard; and we know that a lot of work still needs to be done; as we want to refocus to ensure that retail investors return to the market. We have seen some improvement and we hope to see more as the months progress.”

He explained that stakeholders had been studying what obtained in other markets around the world as regards the global meltdown and what such markets did to overcome the situation, adding that such ideas could be adopted in Nigeria.

The ASHON boss added that these and other issues would form the fulcrum of their association’s inaugural night with the theme, ‘The investment opportunities in a frontier market – the African perspective.’

Madubuike added that the event was also borne out of the urgent need to provide a robust interactive forum for key players in the economy as part of building efforts to galvanise the real sector of the economy.

He said, “The event, which comes up on May 23, will offer a strategic platform for capital market practitioners, giving them firsthand opportunity to understand and appreciate the thinking and expectations of both policy makers and investors.

“It will also be utilised as a capacity building forum for market practitioners as well as a channel to strengthen the association as a critical trade group in the capital market. And we will use the forum to raise a developmental fund necessary to deepen ASHON’s capacity to impact positively on members and the entire market.”

Sopurce; Punch (by udeme Ekwere)