The Association of Issuing Houses of Nigeria (AIHN) has praised Nigerian companies for demonstrating remarkable strength and adaptability despite facing significant economic challenges throughout 2024.
Celebrating Excellence in Challenging Times
During the AIHN's annual Investment Banking Awards ceremony held in Lagos, President Kemi Awodein highlighted that difficult economic conditions failed to stop companies from pursuing capital raising activities for expansion, mergers and acquisitions, and debt issuances.
The prestigious event brought together leading issuing houses, investment banking professionals, regulators, and policymakers to review the year's market activities, recognize outstanding performance, and reinforce the industry's dedication to innovation, professionalism, and value creation.
Awodein told journalists that the awards reflect the underlying resilience of the Nigerian economy despite the notable obstacles encountered in 2024. "Despite the headwinds we saw in 2024, companies still raised capital, sought partners for M&A transactions and issued debts. This shows the economy was tottering, but confidence remained," she stated.
Future Market Outlook and Opportunities
Looking forward, Awodein projected increased activity in the equity capital market, driven primarily by recapitalization exercises across the banking, insurance, and pension sectors.
She also issued an important call for more Nigerians to embrace regulated investment products to combat rising losses to Ponzi schemes. "There is capital in Nigeria looking for a home. Unfortunately, Ponzi schemes exploit this. We must bring more investors into structured, well-governed, traditional investment products," Awodein emphasized.
Representing Lagos State Governor Babajide Sanwo-Olu, Commissioner for Finance Abayomi Oluyomi commended AIHN for consistently promoting excellence and strengthening investor confidence. He noted that "investment banking plays a critical role in shaping the future of our economy. Each deal closed contributes to national development."
Digital Transformation and Market Growth
Nigerian Exchange Limited Chief Executive Officer Jude Chiemeka described the event as a celebration of the crucial work issuing houses perform in capital formation. He highlighted the transformative impact of digital platforms on market participation, revealing that NGX's digital offering dramatically increased retail investor numbers from under 300,000 to nearly 850,000.
"Year 2024 was a defining year. Digitalisation shortened issuance timelines from months to weeks and enabled wider participation, including the Diaspora. Celebrating the institutions driving this transformation is essential," Chiemeka stated.
The event concluded with renewed commitments to deepen Nigeria's capital market, promote investor protection, and drive economic growth through innovation, transparency, and collaboration.
2024 Investment Banking Awards Winners
Notable award recipients included:
- Chapel Hill Denham Advisory Limited: Best Public Sector Debt Issuance House and Best Investment Bank of the Year
- FCMB Capital Markets Limited: Best Corporate Bond House of the Year
- Stanbic IBTC Capital Limited: Best Commercial Paper House of the Year
- Nigerian Breweries Plc Rights Issue: Best Equity Deal of the Year
- Aradel Holdings Plc: Equity Listing of the Year
- Coronation Merchant Bank Limited: Best M&A House and Most Prolific Issuing House
