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Bank of Industry seeks more participation in the capital market



Adebayo Obajemu

Managing Director, Bank of Industry (BOI), Olukayode Pitan was recently awarded with Honourary Fellow of the Chartered Institute of Stockbrokers (CIS). He emerged the third Nigerian to earn the prestigious Honorary Fellowship of the institute. Other Honourary Fellows included General Yakubu Gowon and Mr Atedo Peterside.

Mr Pitan in his remark said the bank would encourage start-ups, micro, small and medium enterprises and other businesses under the financing support of the BOI to be listed at the stock exchange as the stock market play vital role in the growth and sustainability of businesses.

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The CIS said the rationale for the conferment of Honourary Fellowship to Pitan was the bank’s pivotal roles in the growth and development of micro, small and medium scale enterprises in Nigeria.

Besides, the Institute is anticipating listing of some of the companies that have benefited from BOI loans to list on various securities exchanges in Nigeria.

Addressing participants at the award ceremony in Lagos, President and Chairman of Governing Council, Chartered Institute of Stockbrokers (CIS) Mr Olatunde Amolegbe explained that Honourary Fellowship is conferred only on persons who have recorded outstanding achievements with significant contributions to the growth and development of the Nigerian economy.

“We in the Nigerian capital market community are particularly excited by the work that Mr Pitan and BOI are doing to incubate micro, small and medium scale enterprises that not only serve as major sources of employment generation in the country but provide a clear path toward industrialization of the Nigerian economy. Suffice to say that BOI also provides a pipeline to the potential listing of these entities on the various securities markets.

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