The President of the Association of Asset Custodians of Nigeria, Mrs. Taiwo Sonola, in this interview speaks on the role the association has over the years played in promoting and attracting foreign investors into Nigeria. She also spoke about other issues in the market. Nume Ekeghe presents the excerpts:
You are right; we have eight members. As you know, this association is for only banks that offer custody services. We can confirm that all custodian banks have formally joined the association. We are not resting on our oars though as we will be more than pleased to welcome more banks as they join the business of custody.
The theme sought to highlight the various crucial aspects of the capital market in terms of their current states, topical issues, developments, action plans going forward, among others. The choice of this theme was informed by the increasing appetite that foreign portfolio investors are showing in the Nigerian capital market and the need to listen to them, keep them informed and further boost their confidence.
When we talk about investor and custodial services, the uniformed would think that this is an area reserved for foreigners and the rich. Can you speak more about your role in the market? The AACN firmly believes that a good product should be given the required airtime to reach the persons it is intended for. That is the reason why we do some of the things we do. The annual investors’ conference which we organise in the UK is one of the activities we organise to create awareness, not just targeted at investors and intermediaries, but also among regulators and other market operators who participate actively in the event.