How Nigerian capital market can attract investors through IT, by NCMI
August 20, 2009
FOR the Nigerian capital market to compete favourably with its counterparts in developed countries, the Nigerian Capital Market Institute (NCMI) has advised relevant agencies to adopt modern information technologies.
According to the Director General of NCMI, Dr. Oluwatobi Oyefeso, information technology application is an invaluable tool, especially, financial modelling, quantitative data analysis and the financial engineering.
Oyefeso, who spoke at the opening of a workshop organised by the institute in Lagos, yesterday, explained that financial engineering is a variant of the modern finance discipline that focuses on the use of mathematical techniques for intuitive solutions to financial problems.
Oyefeso, in his paper titled: "Mastering Excel With Applications to Finance and Investment", said the flexibility of spreadsheet, such as excel and the built-in functions allow users to model what he identified as "very complicated" situations and to change them to perform analyses quickly and efficiently, adding that the spreadsheet applications are very popular with business professionals.
"Unfortunately, the financial education environment has lagged well behind the business world in its adoption and application of the spreadsheets to solving complex problems.
"As a result, these highly intensive course intend to provide the perfect fulfilment of the participants' needs to learn about the excel spreadsheet problems.
"Importantly, this training programme is hands-on in nature, thereby exposing the participants to relevant and practical uses in the modern work environments".
He explained that one paramount strategy for deepening the Nigerian capital market is the introduction of more financial instrument, thereby giving more choices to the prospective investors.
"However, the investors' demand for these instruments is fairly priced, indicating a fair price value. Suffice to note such fair price cannot be attained without intuitive understanding of the tools and techniques for pricing modern financial instruments," Oyefeso added.
He, however, pointed out that the training will expose participants to various financial mathematics and information technology tools for investment analysis and pricing of financial instruments.
The Guardian Newspaper, Thursday August 20, 2009.
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