Recession: Chartered institute of stockbrokers seeks sound fiscal, monetary policy

The Chartered Institute of Stockbrokers (CIS) on Tuesday said that the country would get out of recession with sound fiscal and monetary policy, innovation and development of all value chains.

Yomi Adeyemi, the Managing Director, Fortress Capital Limited, expressed the view at a news conference in Lagos to unveil the institute’s 20th Stockbrokers Annual Conference.

Adeyemi is the chairman organising committee of the conference.

He said sound fiscal and monetary policy, innovation and development of all value chains were necessary to revamp Nigeria’s economy from its current recessionary status.

Adeyemi said that all the stakeholders needed to work together for the growth and development of the economy.

He said the institute’s 20th annual conference, in line with the present realities, would centre on “Building New Pillars, Creating New Values for Sustainable Development”.

Adeyemi said the conference was coming at a period when all hands were on deck to address the challenges facing the nation’s economy and the effects on the capital market.

He said that the theme of the conference was based on the compelling need to strengthen the competitiveness of the Nigerian economy, of which the capital market was the hub of medium and long-term source of finance.

Adeyemi said that the conference was coming at “this critical stage of the Nigeria’s economy which is in dire need of double digit growth.”