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The Capital Market Solicitors Association [“CMSA”] held its annual edition of its business luncheon on 2 December 2015 themed “Making the Nigerian Capital Market a Catalyst for Change”. The gathering brought together solicitors and representatives from capital market operators while the panel included two directors of NASD PLC; Mr. Jibola Odedina and Mr. Mobolaji Balogun.
The panel advised that a unified regulatory system will lead the market and its regulators along one path, enabling ease in business, provided that the regulators actually have the desire to abide by regulations.
The panel also suggested that to achieve more liquidity, the depth of products in the capital market should be increased to enhance more activity; the tax implications of such products should also be considered. It was further explained that the country’s level of financial literacy also needs to be boosted by an intimate engagement of different interest groups.
In a bid to address concerns regarding Nigeria’s lack of new capital market products, Mr. Odedina finally explained that the NASD OTC Market exists as an alternative platform in the capital market, currently in the process of offering innovative solutions such as Crowdfunding and a trading platform for Private Equity

Source : NASD OTC Securities Exchange