N6.5b lifeline for capital market

Isiaka Adeleke

The Federal Government is to inject N6.5 billion into the capital market, Chairman, Senate Committee on Capital Market, Senator Isiaka Adeleke, has said. The news is coming even as senators and members of the House of Representatives yesterday began the process of shoring up the dwindling fortunes of the capital market.

At a joint press briefing of the Senate and House of Representatives Committees on Capital Market, the lawmakers said they had resolved to rejuvenate the capital market to enable it play active role in revamping the economy of the country. Adeleke, who spoke on realising the full potentials of the Nigerian economy through proactive capital market legislation, said the government planned to inject N6.5 billion to shore up the fortunes of the capital market and protect investors funds.

He noted that the era of change called for a major shift in approaches to seeking solutions to political, social, and economic challenges facing the country. Adeleke said the National Assembly was aware of the dwindling fortunes of the capital market and, by extension, the economy.

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