{"id":149917,"date":"2025-02-11T22:28:39","date_gmt":"2025-02-11T21:28:39","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market"},"modified":"2025-02-15T23:34:22","modified_gmt":"2025-02-15T22:34:22","slug":"senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market","title":{"rendered":"Senate appeals for N10bn to finance literacy development in Capital Market"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Senate Committee on Capital Market, chaired by Senator Osita Izunaso, has appealed to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to approve the sum of N10 billion as special funding to finance literacy development in the capital market.<\/p>\n

The minister and the Director-General of the Securities and Exchange Commission, SEC, Dr Emomotimi Agama, appeared before the committee for an interactive session on Tuesday in Abuja.<\/p>\n

Izunaso said investors are the lifeblood of the capital market but decried the fact that only 5,000 of them were active, stressing the need for literacy development to address the issue.<\/p>\n

\u201cWe are asking for an intervention through capital allocation\u2014a special fund to finance literacy development in the capital market\u2014because that is where the problem lies.<\/p>\n

\u201cIf you do that, we will be happy, and the capital market will blossom. You will receive our letter on this matter today after this meeting.<\/p>\n

\u201cThat is the essence of what Senator Victor Umeh said. Many investors lost their money through the capital market system. People lost money, and they have not regained confidence, but we are pushing them to do so,\u201d Izunaso said.<\/p>\n

Senator Victor Umeh (LP, Anambra) had earlier stated that the capital market is a crucial indicator of \u201cthe health of any economy\u201d and how capital markets operate globally.<\/p>\n

He said: \u201cFrom past experiences in the capital market, a lot needs to be done to restore public confidence in the Nigerian Stock Exchange.<\/p>\n

\u201cRestoring public confidence is key to the functioning of this sector. We say this because what we witnessed was a shocking and traumatic experience, where investors lost all their funds.\u201d<\/p>\n

The chairman of the Senate Committee on Finance, Senator Sani Musa, said that the request for N10 billion for literacy and enlightenment was necessary.<\/p>\n

\u201cWe need to see how we can allocate funds from the budget for this campaign,\u201d he said.<\/p>\n

In his remarks, the Minister of Finance, Wale Edun, said that while President Bola Tinubu has set a target of a $1 trillion economy, \u201cwhat matters is the vibrancy of the economy.\u201d<\/p>\n

He said: \u201cThis involves ensuring economic stability at the macro level in terms of revenues, budget deficits, and inflation rates.<\/p>\n

\u201cThe alignment of these major variables can create a stable environment that will enhance investment, including in the capital market through the stock exchange.<\/p>\n

\u201cAll these fall under the purview of the SEC. We now have a much more stable macroeconomic environment for investments, thanks to the President\u2019s decisive and timely interventions.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Senate Committee on Capital Market, chaired by Senator Osita Izunaso, has appealed to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to approve the sum of N10 billion as special funding to finance literacy development in the capital market. The minister and the Director-General of the Securities […]<\/p>\n","protected":false},"author":84,"featured_media":149916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[2568,254,53],"class_list":["post-149917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-capital-market","tag-nigeria","tag-senate"],"yoast_head":"\nSenate appeals for N10bn to finance literacy development in Capital Market - Nigeria<\/title>\n<meta name=\"description\" content=\"The Senate Committee on Capital Market, chaired by Senator Osita Izunaso, has appealed to the Minister of Finance and Co ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate appeals for N10bn to finance literacy development in Capital Market\" \/>\n<meta property=\"og:description\" content=\"The Senate Committee on Capital Market, chaired by Senator Osita Izunaso, has appealed to the Minister of Finance and Co ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-11T21:28:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-15T22:34:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1739300845.964104.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Senate appeals for N10bn to finance literacy development in Capital Market\",\"datePublished\":\"2025-02-11T21:28:39+00:00\",\"dateModified\":\"2025-02-15T22:34:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\"},\"wordCount\":444,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1739300845.964104.jpg\",\"keywords\":[\"capital market\",\"Nigeria\",\"senate\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/senate-appeals-for-n10bn-to-finance-literacy-development-in-capital-market\",\"name\":\"Senate appeals for N10bn to finance literacy development in Capital Market - 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