Oyebanji, Babalola laud CIS as catalyst for deepening financial literacy

Ekiti State Governor, Biodun Oyebanji, and Afe Babalola, founder of Afe Babalola University, have commended the Chartered Institute of Stockbrokers (CIS) for its maiden International Academic Conference, describing it as a strategic platform for collaboration between capital market stakeholders and academia to strengthen Africa’s financial markets and deepen financial literacy.

The conference, themed “Capital Markets, Sustainable Finance and Economic Transformation in Africa,” held at ABUAD, Ado-Ekiti, brought together academics, regulators, investors, policymakers and capital market operators to explore ways of strengthening Africa’s financial ecosystem, promoting sustainable finance, and mobilising long-term investment for economic development.

Speaking on behalf of Governor Oyebanji, the Commissioner for Industry, Trade and Investment, Tayo Adeola, said African capital markets must drive the continent’s economic transformation through infrastructure financing, enterprise growth, and sustainable development.

Oyebanji lauded the initiative and highlighted Ekiti State’s infrastructure financing model, including its N32.5 billion, 20-year infrastructure bond issued in April 2025 to fund a 17.84-kilometre dual carriageway toll road project, which forms part of a broader road network.

He also cited the state’s public-private partnership model in the energy sector through the Ekiti Independent Power Project, involving Ekiti IPP Limited, Olokiti Distribution Network Limited, and Fenchurch Power Limited.

Afe Babalola, Chancellor of ABUAD, commended CIS for choosing the university as host, describing it as a step toward improving capital market literacy and national development, while expressing pride in ABUAD’s role as host of the inaugural edition.

Emomotimi Agama, director general, Securities and Exchange Commission (SEC), urged African academics to deepen research collaboration with regulators, stressing the need for empirical studies on liquidity, investor behaviour, and market regulation, and noting that “the academy is not a spectator of Africa’s transformation but a co-author.”

Earlier, Fiona Ahimie, 14th president and chairman of the Council of the CIS, described the conference as a landmark initiative to strengthen academia–industry collaboration and advance sustainable finance and innovation across Africa.

Smaranda Olarinde, Vice Chancellor of ABUAD, said the conference was timely for deepening capital markets, expanding financial inclusion, and mobilising long-term investment, adding that CIS’s support for student certification and brokerage accounts would enhance practical exposure and employability.