By David Akinmola
Coronation Securities Limited today gathered financial experts to educate the public on the enormous benefits inherent in the ongoing banking capitalisation.
The education event which was conducted through a webinar and themed: ‘Understanding Bank Capitalisation: Rights Issue and Opportunities for Investors’ provided an avenue for the experts to interact with the public, whilst providing answers to the range of questions asked by the participants.
The Deputy Chief Executive Officer Coronation Securities Limited Olusegun Owadokun, appreciated participants for gracing the event, stating that in today’s financial landscape, the importance of robust capitalisation can’t be overemphasized.
He noted that the webinar was designed to help the public in making informed investments decisions.
The Keynote Speaker at the event, Chief Economist, Security and Exchange Commission (SEC) Nigeria
Okey Umeano, while speaking on ‘Bank Recapitalisation Focus on Right Issues’ said Nigeria has strong deposit banks which have grown, performing well and properly regulated by the Central Bank of Nigeria (CBN).
He submitted that though the banks are strong, they need adequate capital to enable them compete effectively in the international space.
He submitted that right issues has been one of the best method of raising capital, adding that bank capitalisation is really good for economy development.
While outlining the importance of right issues to investors, he noted that it helps investors to retain ownership of their investments; price reduction; investors protection; opportunity of higher return; no tax, transparency & disclosures amongst others.
He implored investors to patronise registered stock brokers while investing, stressing that they are well regulated and would not partake in unwholesome vices.
He also urged investors to seek knowledge, conduct due diligence with support from experts before investing.
He applauded Coronation Securities for conducting the education/awareness programme, noting that the public needs to be properly educated to enable them invest wisely.
Head, Financial Institutions Ratings, Agusto & Co Ayokunle Olubunmi and Partner PwC, Head Capital Market Accounting Advisory Services Practice, West Market Africa Mrs. Bolanle Adekoya, who were panelists at the event, urged investors to always consider the track record of the firms they seek to invest and ensure they properly acquire the required investments education before investing.
They encouraged the public to leverage the opportunities provided by the bank capitalisation to invest in banks of their choice.
About Coronation Securities Limited.
Coronation Securities Limited is engaged in the business of Securities Trading and Brokerage.
The Company provides a full-service platform that allows clients to take advantage of market opportunities, as well as access to structured products, bonds and alternative investments.
