Sola Oni, a veteran financial journalist and capital market professional, has called on Nigeria's financial market regulators, government, and market institutions to make specialised training for financial journalists a strategic priority. Oni, marking his 66th birthday, warned that the quality of financial reporting can significantly influence investor confidence, corporate reputation, and market integrity. He argued that Nigeria's drive to develop a stronger, more credible and investor-friendly capital market should extend beyond regulatory reforms and technological advancement to prioritise the professional development of journalists who communicate financial information to the public.
Oni urged the Securities and Exchange Commission, Nigerian Exchange Limited, securities exchanges, professional bodies, and other market institutions to establish and strengthen structured capacity-building programmes for journalists covering financial services, corporate governance, and the capital market. He stressed that financial journalists need more than basic reporting skills, requiring understanding of financial statements, securities regulation, corporate governance, investment products, and market operations. Inaccurate reporting, inadequate understanding of complex transactions, and misinterpretation of corporate disclosures can distort public perception and weaken confidence in market institutions, he said.
However, Oni cautioned that media capacity building must not become a tool of editorial influence or secure favourable publicity for sponsoring institutions. He said the objective is to equip journalists with knowledge to report the market accurately, independently, and responsibly. He also emphasised the need for a more constructive, transparent, and evidence-based relationship between corporate organisations and the media, particularly as digital platforms and social media accelerate information spread and demand timely, fact-based responses.
Oni advocated a three-pronged approach built around verification, constructive engagement, and accountability to address risks posed by social media and artificial intelligence. Organisations should establish facts before making public allegations and communicate positions transparently, while journalists should independently test information, seek responses from affected parties, and correct substantiated errors without delay. He also reminded journalists that editorial independence must be accompanied by professional accountability, including rigorous verification, fair representation, and prompt correction of material errors.
The capital market's success should not be measured merely by market capitalisation and trading volumes but by its contribution to productive investment, enterprise development, employment, and national prosperity, Oni said. Market expansion would have limited developmental impact if ordinary Nigerians lacked financial knowledge to understand investment opportunities and evaluate risks. He called for stronger financial literacy initiatives bringing together regulators, market operators, professional bodies, educational institutions, and the media to improve public understanding of investments.
Better-informed financial journalists help create a more transparent market, improve investor knowledge, and strengthen accountability among listed companies and market participants, Oni maintained. Sustained investment in financial journalism, professional ethics, and public financial literacy would support the next phase of capital market development, he added.