Nasarawa State University, Keffi (NSUK) has officially begun construction of the permanent site for its Institute of Capital Market Studies (ICMS) — the first university-based capital market institute in Africa.
The foundation-laying ceremony, held in Keffi on Friday, drew academics, regulators, and policymakers, who hailed the project as a landmark step for financial market research and education on the continent.
A hub for innovation and policy
The Institute, established in 2023, is led by Prof. Uche Uwaleke, Nigeria’s first Professor of Capital Market Studies. Speaking at the event, he described the project as “a nursery for Africa’s financial giants” that will equip professionals with skills, generate cutting-edge research, and shape financial policies across the continent.
In just two years, the ICMS has already launched three doctoral programmes — in Financial Markets Regulation, Money and Capital Markets, and Development Finance — all accredited by the National Universities Commission (NUC). The first set of PhD students is expected to graduate in 2026.
Plans are also underway to establish an International Journal of Capital Markets Research and deepen collaborations with institutions such as the West African Monetary Institute in Ghana.
SEC and stakeholders pledge support
The Chairman of the Securities and Exchange Commission (SEC), Malam Mairiga Aliyu Katuka, commended NSUK, noting that the institute aligns with SEC’s mission to safeguard investors and promote inclusive growth.
> “This is not just about bricks and mortar. It is about laying the foundation of knowledge, innovation, and Nigeria’s financial future,” he said.
Other stakeholders, including former presidential adviser Prof. Magnus Kpakol, urged the institute to integrate technology and artificial intelligence (AI) into its research, stressing the growing role of digital tools in global finance.
University Registrar Dr Bala Isiaka described the project as a “legacy that will outlive generations,” while Vice Chancellor Prof. Sa’adatu Hassan Liman reaffirmed NSUK’s commitment to producing globally competitive graduates.
Why it matters
Experts believe the ICMS will play a critical role in:
Strengthening financial market education in Africa
Producing high-level manpower for Nigeria’s economy
Offering evidence-based policy solutions to both government and the private sector
Driving financial inclusion and supporting SMEs through research insights
As Nigeria seeks new ways to mobilise funds for infrastructure and deepen its capital markets, the institute is expected to become a centre of excellence that boosts Africa’s competitiveness on the global stage.
For Prof. Uwaleke, the project represents both the realisation of a vision and the beginning of a larger journey:
“This is our dream. This is our commitment. This is our contribution to Nigeria and to Africa.”
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.