The ex-President of the Association of Issuing Houses of Nigeria (AIHN), Ike Chioke, has shared insights on the dual impact of the Central Bank of Nigeria’s currency reforms, highlighting both challenges and opportunities for the investment banking industry.
Chioke made these remarks during the recently held Investment Banking Awards Night in Lagos.
Acknowledging the ongoing currency reforms, he emphasized the transformative nature of these policies, stating, “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.”
He pointed out that the free-floating of the naira and the removal of fuel subsidies, while causing short-term hardships, are integral components of the evolving economic landscape.
Chioke urged industry professionals to leverage their skills and expertise to navigate and capitalize on the opportunities presented by these reforms.
“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 stated, emphasizing the pivotal role of investment banking in steering the nation’s economic course.
Meanwhile, the Investment Banking Awards Night recognized outstanding achievements in the Debt Capital Market and Equity Capital Markets categories.
Chapel Hill Denham Advisory Limited emerged as the winner in the Debt Capital Market Category, securing accolades such as Private Company Bond House 2022 Award, Best Commercial Paper House 2022 Award, and Best Bond House 2022 Award.
StanbicIBTC Capital Limited received the Best Commercial Paper House 2022 Award.
In the Equity Capital Markets Category, the Equity Deal of 2022 Award was shared among three distinguished companies: Stanbic IBTC Capital Limited, UCML Capital, and Rand Merchant Bank, underscoring their impactful contributions to the equity market.
This celebration of excellence reflects the resilience and dynamism of the Nigerian investment banking sector amid a changing economic landscape.