Capital market operators were encouraged to harness the potential of technology to enhance their operations, all while remaining vigilant regarding associated risks.
This call to action came from Ade Bajomo, President of FinTech Nigeria, in his keynote address at the 12th annual conference of the Institute of Capital Market Registrars held over the weekend.
Bajomo emphasized the dynamic changes in the market landscape, noting the rapid emergence of fintechs, digital brokers, and robot advisors, which necessitated a swift revision of the capital market master plan.
He stressed the importance of adapting to these technological shifts.
Haruna Jalo-Waziri, the Chief Executive of Central Securities Clearing System Plc, echoed this sentiment, highlighting that technology adoption and the embrace of fintechs would pave the way for innovative products within the capital market.
Traditional market players were urged to recognize the transformative potential of fintech and its role in market growth.
The theme of the conference, as stated by the President/Chairman of Council, ICMR, Oluseyi Owoturo, revolved around the challenging economic conditions in Nigeria.
He emphasized the impact of technology-induced innovations on the capital market, such as electronic exchanges and high-frequency trading.
The conference aimed to explore how technology could help navigate economic uncertainties and transform the capital market in the face of these challenges.
Additionally, Professor Uche Uwaleke advised companies to diversify their business operations as a strategy to weather the economic headwinds in the country.
The event also featured the investiture of Honorary Fellows, Fellows, and the induction of Associates.
