Modupe Gbadeyanka
By Modupe Gbadeyanka
A guidebook for financial market operators and practitioners titled Financial Intermediation: Operations and Practice has been launched by Mr Seye Adetunmbi.
The unveiling of the piece was done virtually, with some heavyweights in the nation’s capital market in attendance, including Mr Atedo Peterside, Mr Dele Fajemirokun of AIICO Plc, Mr Ibikunle Amosun, Mr Lamido Yuguda, the Director-General of the Securities and Exchange Commission(SEC); Mr Oscar Onyema, the CEO of the Nigerian Stock Exchange (NSE); Ms Arunmah Oteh, former CEO of NSE; Mr Bola Ajomale, the MD of NASD Plc; amongst several others.
Mr Adetunmbi, while speaking at the launch of the book, which had its foreword written by Mr Peterside, thanked the guests for honouring him with their presence.
He said he was inspired to write the book because of his first experience in the capital market in 1990 when as a greenhorn, his first assignment was the private placement of the divesture of the controlling holdings of Ondo-State Government in Araromi/Aiyesan Oil Palm Plc.
According to him, “the financial intermediary service firm I worked for had not handled such a capital market issue before. In fact, there were very few investment banking mandates that had been consummated in the Nigerian capital market in the late 1980s and early 1990s.”
He admitted that the private placement brief “challenged me” to develop a passion for investment banking and lasting career in the capital market.
According to him, “There and then, I found the need for a standard pragmatic manual for capital market operators and corporate finance operatives.”
“Naturally by instinct, I started taking notes on financial market operations and practice within and outside Nigeria which culminated into this textbook,” he added.
The capital market expert noted that the initial manuscript was first concluded as far back as 1992, which he updated for this edition.
“I received inquiries from people who read my research work on Real Estate Investment Trust, Debt Securitization and Asset-Backed Securities which also prompted me to see this book through,” he said.
Mr Adetunmbi stressed that Nigeria is the case study in the book because activities in the money and capital market between 1980 and 2020 had been quite remarkable and should be documented, such that, it will serve as a guide for other emerging markets, government technocrats, intending practitioners, existing financial market operators and individuals, who are the main targets of the book and who wish to know how the financial market operates and works.
“I have read a number of publications on financial intermediation and its practice in developing economies which I found very informative on the activities in the sector.
“However, I deem it necessary to put a textbook together which will not only review the activities of the Nigerian financial market to date but serve as a practical guidebook for intending operators and participants who have been eager to be involved but have been constrained by lack of information and the technical knowhow.
“The book should also clear misconceptions on the operational procedure in the financial market, particularly the mix-up of the identities and the respective functions of the various registered financial market operators and players,” he said.
Mr Adetunmbi noted that the 20 chapters of the book should be able to inform the financial engineers, formal sector players and practitioners, proprietors, entrepreneurs, investors and company executives on the opportunities that abound for them in the financial market as well as the challenges too, and how to benefit from this sector in a developing economic environment.
