Chartered Institute of Stockbrokers (CIS) and the Anabel Leadership Academy have signed a Memorandum of Understanding (MoU) to assist the institute mobilise youths to enroll for Diploma in Securities and Investment.
President and Chief Executive Officer, Anabel Group, Dr Nicholas Okoye, described the MoU as a great initiative by the CIS to develop a financial inclusion master plan for the young Nigerians.
Okoye explained that the initiative, which is consistent with Anabel’s Empower Nigeria Initiative, aims at overall development of manpower for the Nigeria’s economy and creating jobs for thousands of young people.
According to him, many of the qualified youths will be supported by Anabel Group’s Empower Nigeria to set up their own Financial Planning Houses in communities across Nigeria.
Okoye noted that this programme would provide the foot soldiers needed for the nation’s financial Inclusion strategy, which is being promoted by the Central Bank of Nigeria (CBN), the Federal Ministry of Finance, the Securities and Exchange Commission and the Nigerian Stock Exchange.
He expressed delight that the private sector led initiative, which is ultimately designed not just to create new jobs but also to support the mobilisation of savings all over Nigeria, would not only have a multiplier effect on the overall development of Nigeria’s financial markets, but it will equally provide a positive boost to the growth of our national economy in the medium and long term.
“The beneficiaries would be exposed to fundamental knowledge of a wide spectrum of financial products in the securities market, pension, insurance, oil and gas, among others.
“The Anabel Leadership Academy promotes its Empower Nigeria Initiative as a strategic solution designed to create over one million new jobs in the next three to five years through entrepreneurship development and the empowerment of micro, small and medium scale businesses,” he said.
Okoye proposed major sources by which the Federal Government could source international capital to finance the deficit in the recently approved N6 trillion 2016 fiscal budget.
He advocated strategic approach towards exposure of the Nigerian youths to entrepreneurship training in order to address the problem of youth unemployment. Speaking on the implementation of the 2016 budget, Okoye explained that the federal government could source fund internationally through debt market, capital market, private equities and global venture capital.
He noted that some banks in Nigeria had successfully raised funds by floating international bonds, hence, the Federal Government could deploy the platform to mobilize funds to address budget deficit. Okoye appealed to the government to accord priority to youth employment as part of the strategy to boost economic activities in Nigeria.