The Nigerian Stock Exchange (NSE) says that its maiden edition of retail investor workshop will provide vital and strategic information targeted at equipping existing and prospective investors with useful skills to effectively manage and grow financial resources at their disposal, as well as present retail Investment opportunities available in the capital market.
In his opening address at the workshop tagged “Investment Masterclass; Making your money work” on Monday in Lagos the Divisional Head, Trading Business of the NSE, Mr. Jude Chiemeka, noted that the current Financial Inclusion indices of 48 percent in Nigeria leave much to be desired.
He assured that Financial Inclusion is a priority of stakeholders in the capital market and that the Nigerian Stock Exchange makes it a primary concern to contribute towards the achievement of Nigeria’s National Financial Inclusion Strategy of reducing the proportion of adult Nigerians that are financially excluded to 20 percent in the year 2020.
Chiemeka noted that Nigeria has a population of over 190 million people and is the second largest economy in Africa and that currently there are about 3 million retail investors in the Nigerian Capital Market, representing only 3 percent of the total adult population in the country.
According to him, the NSE recognizes the need to improve investor participation, and is leveraging recent Capital Market Initiatives such as the Tiered KYC requirements for capital market investments, as well as promoting the introduction of globally competitive investment products with low entry thresholds, to achieve Financial Inclusion goals.
“These initiatives have begun to yield positive results as the market has in recent times witnessed an upturn in retail investor participation. Market data from 2019 shows that retail investors outperformed institutional investors by 8 percent in January, and again by 2 percent in March 2019.
“The Retail Coverage Department of the NSE will be rolling out measures directed at encouraging retail investor involvement in the Capital Markets,{ he said.
He disclosed that over the next few years, various investment workshops will be held across the country, starting with this one here in Lagos and that investors can look forward to regular engagements targeted at promoting Financial Literacy, building investor confidence, as well as the introduction of innovative and technology driven solutions to stimulate investor participation.
Chiemeka added that the workshop will bring to the fore a bouquet of products and services tailored to cater to different investment and risk appetites, as well as create a better understanding of the opportunities in the capital market.
GIK/APA