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The immediate past President, the Association of Issuing Houses Nigeria (AIHN), Ike Chioke, said the ongoing foreign exchange (FX) reform instituted by the Central Bank of Nigeria (CBN) has presented both challenges and opportunities for investment bankers,
Speaking during the Investment Banking Awards Night held in Lagos, he said the free-floating of the naira and removal of fuel subsidies have overwhelming impacts on key sectors of the economy.
“Nigeria is obviously bracing up to the impact of the new government and they are already making changes to what I will call non unorthodox policies. These policies had 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,” he said.
Chioke said despite the hiccups in the implementation of the policies, they have thrown up major opportunities for investment banking, urging professionals to apply their best skills and expertise to make the best of the opportunities.
He noted that the investment banking industry is a critical one for the economy as it parades the best brains in the financial system.
The awards night was attended by both top executives and middle-level staff within the financial markets industry and presented opportunities for many players in the industry to receive recognition for their excellent performance in the 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, while the Best Commercial Paper House 2022 Award went to Stanbic IBTC Capital Limited.
Also, in the Equity Capital Markets Category, the Equity Deal of 2022 Award was won by three companies- namely Stanbic IBTC Capital Limited, UCML Capital and Rand Merchant Bank.
Additionally, Stanbic IBTC Capital Limited won the Best Equity House 2022 Award within the category.
In the Financial Advisory Category, Stanbic IBTC Capital Limited won the M&A Deal of 2022 Award while Chapel Hill Denham Advisory Limited won the Best Financial Advisory House 2022 Award.
The Investment Banking category saw Stanbic IBTC Capital Limited take the prize as the winner, the Best Investment Bank 2022 Award.
The Lagos State Government was awarded the Capital Markets Titan Award, within the Capital Markets Titan category.
On her part, the newly elected President, AIHN, Kemi Awodein, said the recognition of the winners was a way of acknowledging the excellent work they are doing in their different areas of specialisation and motivation to do even more.
She promised to continue and improve the culture of excellence and development of the financial markets to the benefit of customers, investors and the economy.
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