Emmanuel OchayiThe winds of change in Nigeria’s financial landscape, stirred by the Central Bank’s foreign exchange (FX) reforms, were acknowledged as a double-edged sword by Ike Chioke, the former President of the Association of Issuing Houses Nigeria (AIHN).
Speaking at the Investment Banking Awards Night in Lagos, Chioke articulated both the trials and triumphs that emerged from the CBN’s overhaul.
“The impact of these new policies on our economy is evident,” Chioke stated. “The shift to a free-floating naira and the elimination of fuel subsidies have exposed vulnerabilities across sectors, ushering in hardship and challenges.”
However, amidst the turbulence, Chioke emphasized the silver lining, highlighting that these policies have unfurled prospects for investment banking. He urged industry professionals to leverage their expertise to capitalize on these opportunities.
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“The hurdles in policy execution notwithstanding, there’s a distinct window for investment banking to thrive,” he remarked. “Our industry boasts the finest financial minds, and it’s time to channel our skills for maximum gain.”
The Investment Banking Awards Night gathered luminaries from the financial markets, recognizing excellence within the sector. Chapel Hill Denham Advisory Limited clinched multiple accolades in the Debt Capital Market Category, while Stanbic IBTC Capital Limited dominated across various categories including Equity Capital Markets, Financial Advisory, and the prestigious Best Investment Bank 2022 Award.
In her remarks, the newly elected AIHN President, Kemi Awodein, underscored the importance of honoring outstanding contributions within the industry. “Recognizing these achievers is a testament to their remarkable work and serves as a catalyst for further advancements,” Awodein pledged, vowing to sustain and elevate the culture of excellence within financial markets.
The event culminated with the Lagos State Government receiving the Capital Markets Titan Award, cementing its role within the capital markets sector.
Awodein assured a steadfast commitment to advancing the financial markets, ensuring benefits for customers, investors, and the overall economy. The stage is set for a transformative journey, navigating both challenges and opportunities spurred by the evolving financial landscape in Nigeria.
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