Formalizing Nigeria's Informal Economy, Key to Deepening The Capital Market - Johnson Chukwu
Formalizing the Informal Economy in Nigeria will go a long way in creating more opportunities for various sectors to have more representation in the Nigerian stock exchange, that can help deepen the capital market ecosystem.
Mr. Johnson Chukwu the Group Managing Director of Cowry Asset Management disclosed this as a guest on the "Market Review" show anchored by Ottoabasi Abasiekong.
Looking at the current Q3, 2020 recession in Nigeria and implications for the capital market, Mr. Johnson Chukwu agreed with the call for deregulation of the economy, using the Telecommunication sector example which has translated to two big giants MTN and Airtel listing on the market and boosting the capitalization.
He was of the view that fiscal policy should reduce the cost of doing business in the country, while the monetary authorities should explore how to reduce risk exposures for banks.
On the 276th Monetary Policy Committee meeting of the Central Bank of Nigeria which is expected to issue a statement this afternoon, he was of the view that the MPR will be retained at the current rate in 11.5%.