As the regulators strategise to increase retail investors’ patronage in the market, shareholders have stressed the need for a review of existing protection mechanisms for Nigerian investors in line with global principles, and articulate ways to conform to the right standards.
The shareholders also urged both the regulators and operators to forestall future losses arising from poor corporate governance, advisory services, regulation, and inadequate oversight of accounts among others in the market. Also, the retail investors noted that the protection they got from the regulators in the past was not enough, and therefore developed apathy to return to the market.
Specifically, an independent investor, Amaechi Egbo said the major reasons investors patronise the stock market is for protection of their investment, noting that once investors feel that their investments are in safe hands, they remain in the market and increase their participation. Egbo pointed out that some of these steps were taken due to crises, while others were proactive measures put in place to forestall future uncertainties as well as potential loss of investment.
“It is proper to have in place a vibrant investors’ protection insurance scheme against the unethical conduct of practitioners, which could lead the hapless and helpless capital market investors, prostrate.”