Chioke:  Currency Reforms Present Challenges, Opportunities for Investment Banking

Kayode Tokede

The immediate past President, Association of Issuing Houses of Nigeria (AIHN), Mr. Ike Chioke, has said the Central Bank of Nigeria (CBN) ongoing currency reforms come with challenges and opportunities for investment banking,

Speaking at the Investment Banking Awards Night in Lagos, Chioke said the free-floating of the naira and removal of fuel subsidy impacted 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.”

Chioke stated that 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 said.

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.

The Awards night was 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.