The immediate past president, Association of Issuing Houses of Nigeria, Ike Chioke, has said, the ongoing currency reforms by the Central Bank of Nigeria come with challenges and opportunities for investment banking.
Chioke stated this at the Investment Banking Awards Night held in Lagos. He said the free floating of the naira and removal of fuel subsidy impacted on key sectors of the economy.
According to him, Nigeria is obviously bracing up to the impact of the new government and is already making changes to what I will call ‘non-unorthodox’ policies. These policies also introduced pain and hardship with the free floating of the naira and removal of fuel subsidy forcing their weaknesses on various sectors of the economy.
“Despite the hiccups to their implementation, the policies have thrown up major opportunities for investment banking, urging members to apply their best skills and expertise to make the best of the opportunities. Investment banking industry is a critical one for the Nigerian economy and we represent the best brains and expertise in that space,” he stressed.
Also, the Awards night graced by both top executives and middle level staff in the financial market, presented opportunities for many players in the industry to receive awards, in recognition of their excellent performance last year.
In the Debt Capital Market Category, Chapel Hill Denham Advisory Limited won the Private Company Bond House 2022 Award; Best Commercial Paper House 2022 award and Best Bond House 2022 Award, while the Best Commercial Paper House 2022 award went to Stanbic IBTC Capital Limited.
Also, in the Equity Capital Markets category, the Equity Deal of 2022 award was won by Stanbic IBTC Capital Limited, UCML Capital and Rand Merchant Bank.
Additionally, Stanbic IBTC Capital Limited won the Best Equity House 2022 award within the category.
In the Financial Advisory Category, Stanbic IBTC Capital Limited won the M&A Deal of 2022 award, while Chapel Hill Denham Advisory Limited won the Best Financial Advisory House 2022 award.
The Investment Banking category saw Stanbic IBTC Capital Limited take the prize, Best Investment Bank 2022 award. The Lagos State government was awarded the Capital Markets Titan award, within the Capital Markets Titan category.
Newly-elected president of AIHN, Kemi Awodein, said the recognition to the winners was a way of acknowledging the excellent work they do in their different areas of specialisation, and motivation to do even more.
She promised to continue and improve on the culture of excellence and development of the financial markets to the benefit of customers, investors and the economy.