Reps Hold Public Hearing on Financial Analysts

By Deinde Falase

The public hearing on the bill seeking the establishment of the Chartered Institute of Financial & Investment Analysts of Nigeria provided a platform for its supporters to present a clear case. They argue that following the examples of places like the United States, India and some African Countries like Ghana and South Africa, the Institute will provide a talent pool of analysts that can give early warning signals on issues that may affect investment systems and put in place preventative measures against future National and Global financial crisis.

Opponents of the bill however claim that it is a duplication capable of conflicting with the roles of accountants and stock brokers. After hours of listening to agreements from both sides, the house joint committee on commerce and justice had a cleaner picture of the issues at stake. A detailed report based on input from the public hearing will soon be presented to the House for consideration.