Nigeria: Assets Custodians woo Foreign Investors to Financial Markets with automation and adoption of SWIFT

Leveraging reforms in the nation’s financial markets as well as proposed innovations that would bolster accountability and governance, the Association of Assets Custodians of Nigeria (AACN) has expressed optimism of foreign investors renewing their stakes in nation’s economy.

Preparatory to its fourth yearly investor conference, scheduled for the 7th of May, 2015, in London, the President of the Association, Mrs Kemi Adewole explained that the conference is designed to provide expert insight on Nigeria’s current market trends while unveiling opportunities in the nation’s economy.

According to her, the conference will provide a platform to facilitate dialogue between foreign investors and Nigerian capital/financial market operators, while keeping participants abreast of Nigerian securities market developments.

Themed “Nigeria: Navigating changes, extracting opportunities”, Adewole noted that general automation in the market was generally being driven by foreign portfolio investors because in the market that they are used to has been fully automated and Nigeria cannot afford to lag behind.

Specifically, Adewole added that the automation of the certificate of capital importation process is expected to increase the efficiency of the market; while the introduction of securities lending and the adoption of the Swift platform by the CSCS would further advance the expected positive outlook of the market.

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