The President, PEARL Awards Nigeria, Mr Tayo Orekoya, has called for a holistic review of the 10-year capital market master plan in the light of current economic realities in the country.
Orekoya, while speaking during a press briefing on the 2019 Pearl Awards, described the performance of the capital market as still relatively unstable.
He said the market performance nosedived in recent past due to a decline in stock and bond investments occasioned by divestment in stocks by foreign and local investors.
He said the PEARL Awards fully supported the sensitisation initiative of the NSE through the ongoing market data workshop series and the various initiatives from SEC, including the engagement of relevant stakeholders with the 10-year capital market master plan.
According to him, SEC needs to do more towards investor education to rebuild confidence in the market.
Orekoya said, “On our part, PEARL Awards Nigeria remains committed to partnering the regulatory authorities and other stakeholders towards achieving sustainability, growth and deepening of the market.
“It is gratifying to state that the PEARL Awards board of governors, through its technical committee, has deemed it fit to review the parameters currently being utilised for the assessment of quoted companies.
“This review is in tandem with international best practices and it is envisaged that additional new parameters that are equally globally acceptable would be introduced in due course for enhanced assessment of quoted companies.”