The Nasarawa State University, Keffi (NSUK), has commenced the construction of the permanent site of its Institute of Capital Market Studies (ICMS), a project stakeholders say will reshape Nigeria’s economy and strengthen Africa’s financial market research capacity.
Speaking at the foundation-laying ceremony in Keffi, experts from academia, regulation, and policy described the initiative as historic, stressing that it would bridge knowledge gaps in financial market education, drive innovation, and provide evidence-based insights for sustainable economic growth.
The pioneer Director of the Institute and Nigeria’s first Professor of Capital Market Studies, Prof. Uche Uwaleke, explained that the ICMS, established in 2023 as Africa’s first university-based capital market institute, was mandated to train skilled professionals, conduct cutting-edge research, and influence policy direction for the continent’s financial systems.
“This Institute is not just 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,” Uwaleke said.
He revealed that within two years of its establishment, the Institute had launched three doctoral programmes, 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 noted, is expected to graduate next year. Plans are also underway to launch an International Journal of Capital Markets Research, expand postgraduate offerings, and forge global partnerships with institutions such as the West African Monetary Institute in Ghana.
SEC Chairman, Mallam Mairiga Aliyu Katuka, said the project aligns with SEC’s mission to protect investors and promote 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 deepen investor confidence and support sustainable development,” Katuka said, pledging SEC’s continuous collaboration.
Former Chief Economic Adviser to the Federal Government, Prof. Magnus Kpakol, urged the Institute to integrate technology and artificial intelligence into its research, stressing that technology is increasingly intertwined with capital markets.
“You cannot develop as a nation without access to capital. Harnessing this is what the Institute is all about,” Kpakol added.
Registrar of the university, Dr. Bala Isiaka, described the ICMS building as a legacy project, while Vice Chancellor Prof. Sa’adatu Liman and other principal officers, including DVC Academic Prof. Maikano Ari and Dean of Postgraduate Studies Prof. Suleiman Abdullahi Adamu, pledged institutional support.
Stakeholders expressed optimism that the Institute would not only transform financial market education but also offer policy solutions for government and the private sector, especially at a time when Nigeria is seeking to deepen its capital markets to mobilize funds for infrastructure, boost SMEs, and drive innovation.
