NSUK Flags-Off Construction Of Africa’s First University-Based Capital Market Institute

…SEC, Other Stakeholders Say Institute Will Drive Capital Market Innovation

Nasarawa State University, Keffi (NSUK), on Friday began construction of the permanent site of its Institute of Capital Market Studies, a project stakeholders say will redefine the future of Nigeria’s economy and strengthen Africa’s financial market research capacity.

At the foundation-laying ceremony held in Keffi, Nasarawa State, academics, regulators, and policy experts hailed the project as historic, describing it as a knowledge hub that would bridge gaps in financial market education, drive innovation, and provide policy insights for sustainable economic growth.

Pioneer Director of the Institute and Nigeria’s first Professor of Capital Market Studies, Prof. Uche Uwaleke, said the ICMS was established in 2023 as the first university-based capital market institute in Africa, with a mandate to train highly skilled professionals, conduct cutting-edge research, and shape policy direction for the continent’s financial systems.

Uwaleke said, “This institute is not only about a building but about building the future. It is a hub of innovation, a nursery for Africa’s financial giants, and a citadel of learning that will shape the economic destiny of our continent for generations to come.”

He revealed that within two years of its establishment, the Institute had rolled out three doctoral programmes in Financial Markets Regulation, Money and Capital Markets, and Development Finance, all approved by the National Universities Commission (NUC).

The first set of PhD students, he added, is expected to graduate next year.

Uwaleke also announced plans to establish an International Journal of Capital Markets Research and expand postgraduate offerings while building global partnerships with institutions such as the West African Monetary Institute in Ghana.

“This project will provide Nigeria and Africa with a premier centre for capital market research and policy engagement. It will help strengthen financial markets as drivers of economic development,” he added.

The Chairman of the Securities and Exchange Commission (SEC), Mallam Mairiga Aliyu Katuka, stated that the project aligns with the SEC’s mission to establish a capital market that safeguards investors and fosters inclusive growth.

“This event is not about laying bricks but laying the foundation of knowledge, innovation, and the future of Nigeria.

“The capital market is a key driver of growth, ideas, and integrity. The policy research from this institute will support sustainable development and deepen investor confidence,” Aliyu said.

He pledged the SEC’s continuous collaboration with the Institute to ensure Nigeria develops a strong, stable, and globally competitive capital market.

Former Chief Economic Adviser to the Federal Government, Professor Magnus Kpakol, urged the Institute to embrace technology and artificial intelligence (AI) in its research, stressing that technology is increasingly intertwined with capital markets.

“You cannot develop as a nation without access to capital. It is important we learn how to harness this, and that is what this institute is all about,” Kpakol said, adding that he would continue to support NSUK’s efforts.

Registrar of the university, Dr Bala Isiaka, described the ICMS building as a legacy project that would outlive generations.

“The size of land allocated to this project shows its importance. We are happy with the Institute and the role it will play in nation-building,” he said.

The Vice Chancellor of NSUK, Professor Sa’adatu Liman, alongside other principal officers, including the Deputy Vice Chancellor (Academic) and Chairman of the Institute’s Board, Professor Maikano Ari, and the Dean of the School of Postgraduate Studies, Professor Suleiman Abdullahi Adamu, was also present at the event.

Stakeholders at the ceremony expressed optimism that the Institute would not only transform financial market education but also provide evidence-based policy solutions for government and private sector players, boosting economic stability and growth.

They say the ICMS is coming at a critical time when Nigeria is seeking to deepen its capital markets to mobilise funds for infrastructure, drive innovation, and support small and medium enterprises.

By producing high-level manpower and generating research-driven insights, the Institute is expected to help bridge gaps in financial inclusion and strengthen Africa’s competitiveness in the global market.

For Professor Uwaleke, the ceremony marked both the fulfilment of a dream and the beginning of a larger journey.

“This is our dream. This is our commitment. This is our contribution to Nigeria and to Africa,” he said.

NSUK Flags-Off Construction Of Africa’s First University-Based Capital Market Institute is first published on The Whistler Newspaper