Professor Tunbosayo Okekunle Leads Nigeria’s Capital Market Reform Through Strategic Diaspora Reinvestment

In a decisive move to strengthen the national economy, the Nigerian Economic Council has formally invited renowned financial expert Professor Tunbosayo Okekunle to spearhead a new era of capital market reform. Moving beyond traditional investment models, Professor Okekunle has answered this call by launching the Tunbosayo Okekunle Strategic Alpha Fund (TOSAF), an initiative positioned not merely as a financial product, but as a mission-driven vehicle for structural market evolution. This transition represents a strategic effort by the state to harness the expertise of its global diaspora to instill discipline, provide long-term stability, and transform Nigeria’s financial landscape into a globally competitive arena. The collaboration signifies a sophisticated shift in national policy, prioritizing the return of “smart capital” and specialized governance to the domestic stock exchange.

A Mandate Rooted in National Mission

The return of Professor Tunbosayo Okekunle to Nigeria is characterized as a significant homecoming facilitated by high-level diplomatic and economic engagement. Following multiple rounds of consultations with the Nigerian Economic Council, the Professor accepted a formal invitation to transfer his extensive overseas financial research and capital practice experience back to his home country. He notes that this decision transcends personal commercial interests, serving instead as a response to a clear national summons. This institutionalized approach to attracting diaspora talent is a cornerstone of the current administration’s economic strategy, aiming to bridge the gap between local market needs and international financial standards. By leveraging the expertise of seasoned professionals like Professor Okekunle, the state intends to build a more resilient economic framework capable of attracting sustained foreign direct investment.

While Nigeria possesses significant liquidity, Professor Okekunle observes that the market suffers from a “capital desert” not in terms of quantity, but in terms of quality and duration. He points out that the current market is often plagued by short-term “hot money” that enters and exits rapidly, which undermines the establishment of a robust and steady financial ecosystem. The Nigerian Economic Council’s interest, therefore, lies not in the immediate profitability of a single fund, but in its potential to fundamentally alter market behavior. To this end, TOSAF has been designed as a strategic hedge fund that prioritizes long-term orientation and institutional discipline over speculative gains. The fund acts as a stabilizing force, providing the patient capital necessary for infrastructure and industrial growth that quick-flip investments often neglect.

The Dual-Engine Strategy: Capital and Knowledge

A distinctive feature of Professor Okekunle’s approach is the “dual-engine” system, which integrates capital management with knowledge dissemination. He asserts that a fund is merely a tool; the ultimate objective is the structural upgrade of the Nigerian securities market. By implementing long-term value investment strategies, TOSAF seeks to mitigate irrational market fluctuations and rebuild investor trust. Professor Okekunle argues that for any capital market reform to be sustainable, it must be supported by a solid foundation of investor understanding, referring to education itself as a form of “financial infrastructure.” This perspective treats the cognitive development of market participants with the same level of importance as the technological or regulatory frameworks of the exchange.

Central to the TOSAF ecosystem is the Okekunle Business School, an institution dedicated to providing free, systematic financial education to the Nigerian public. This initiative targets the root cause of market instability: the uninformed behavior of retail investors. By teaching the principles of risk management, investment discipline, and long-term logic, the school aims to improve the overall quality of market participation. Professor Okekunle maintains that without such an educational framework, any reforms to the capital market would remain “castles in the air,” lacking the necessary ground-level support to withstand economic cycles. The curriculum is designed to demystify complex financial instruments, empowering citizens to participate in wealth creation responsibly and ethically.

Fostering International Competitiveness

Professor Okekunle’s vision extends beyond the borders of Nigeria. He believes that by cleaning up domestic market practices and introducing rigorous institutional standards, Nigeria can become the premier financial hub of Africa. The goal is to create a market that is not just a destination for local savings, but a magnet for global institutional investors seeking transparency and stability. Through TOSAF, Professor Okekunle intends to demonstrate that African markets can sustain high-level hedge fund operations that adhere to global best practices. This professionalization of the market is expected to lower the cost of capital for Nigerian businesses, facilitating a broader industrial and technological renaissance across the continent.

Professor Okekunle concludes that his involvement in the Nigerian market is a permanent commitment rather than a transitory project. Acknowledging the challenges ahead—ranging from regulatory hurdles to entrenched market habits—he views his work through the lens of national responsibility, stating that the project is intended to span far beyond a few years. The true metric of success for TOSAF and the Okekunle Business School will not be found in phase-based returns or the size of the fund, but in the long-term maturation of the market. The vision is for a Nigerian capital market that is inherently more rational, resilient, and capable of standing alongside the world’s leading financial centers. As this initiative unfolds, it serves as a blueprint for how other emerging nations can strategically engage their diaspora to drive meaningful economic reform.

About Professor Tunbosayo Okekunle

Professor Tunbosayo Okekunle is a distinguished financial scholar and practitioner with an extensive background in international capital markets and financial research. Having spent a significant portion of his career abroad, he is recognized for his expertise in capital structuring and institutional investment strategies. He currently serves as the founder of the Tunbosayo Okekunle Strategic Alpha Fund (TOSAF) and the Okekunle Business School, focusing on the intersection of strategic capital and financial education.

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