‘CBN reforms, opportunities for investment bankers’

The immediate past President of the Association of Issuing Houses of Nigeria, Ike Chioke, says the ongoing currency reforms of the Central Bank of Nigeria have presented both challenges and opportunities for the investment banking industry.

In a statement on Monday, Chioke said this during the Investment Banking Awards Night held in Lagos recently.

He also said the free-floating of the naira and removal of fuel subsidies had impacted key sectors of the economy.

“Nigeria is bracing up to the impacts of the new government and they are already making changes to what I will call non-unorthodox policies. These policies had also introduced pain and hardship with the free-floating of the naira and removal of fuel subsidy forcing their weaknesses on various sectors of the economy,” he said.

Chioke added that despite the hiccups in the implementation of these reforms, they have thrown up major opportunities for investment banking.

He urged members to apply their best skills and expertise to make the best of the opportunities.

“As you know, the investment banking industry is a critical one for the Nigerian economy and we represent the best brains and the best expertise in that space,” he said.

Meanwhile, in the Debt Capital Market Category of the award, Chapel Hill Denham Advisory Limited won the Private Company Bond House 2022 Award; Best Commercial Paper House 2022 Award, and Best Bond House 2022 Award while the Best Commercial Paper House 2022 Award went to StanbicIBTC Capital Limited.

In the Equity Capital Markets Category, the Equity Deal of 2022 Award was won by three companies- namely Stanbic IBTC Capital Limited, UCML Capital, and Rand Merchant Bank.