The need to promote investor education and protection for enhanced financial literacy formed the core of conversations marking the IOSCO World Investor Week 2024 which came up between October 7 to 13, 2024 at the Nigerian Exchange Lagos.
The event which came up as part of the global IOSCO World Investor Week was organized by the Nigerian Exchange Group in collaboration with the Securities and Exchange Commission (SEC) and other market operators.
It featured a series of engaging events aimed at promoting financial literacy and empowering retail investors. These activities highlighted the growing importance of technology and sustainability in modern finance, aligning with the 2024 theme: “Technology, Digital Finance, and Sustainable Finance.”
L – R shows Chief Executive Officer, Nigerian Exchange Limited (NGX), Jude Chiemeka; Executive Commissioner, Operation, Securities and Exchange Commission (SEC), Bola Ajomale; Director General, SEC, Emomotimi Agama; Director, SEC, Lagos Zonal Office, Hafsat Bukola Rufai; CEO, NGX RegCo, Femi Shobanjo and Director, Office of The DG, Tunde Kamali during the Retail Investors’ Workshop and Closing Gong Ceremony in Commemoration of the IOSCO World Investor Week 2024 at NGX in Lagos.
The week kicked-off with a financial literacy seminar at Pan-Atlantic University, Lagos, hosted by NGX Group and the Financial Literacy Technical Committee of SEC.
The event attracted hundreds of students eager to learn about the fundamentals of investing, setting the stage for a series of impactful engagements aimed at equipping participants with the knowledge necessary to make informed financial decisions.
Following the seminar, the NGX Retail Investor Clinic provided practical insights into capital market strategies from industry experts.
Dr. Emomotimi Agama, Director-General of SEC, highlighted the importance of investor protection and regulatory oversight in fostering trust. “Our mission is to safeguard investor interests while promoting informed participation,” he emphasized.
”The World investors week is a global week being celebrated by the international organizations of Securities Commission IOSCO, for which the Nigerian SEC is a signatory B member. And because we’re a signatory a member, it becomes important that we join this global celebration, global acknowledgement of your resilience and your participation in our market today.
”The Nigeria Capital Market has grown, but yet we know we still have a lot of spaces to fill. Those spaces can only be filled when you are satisfied. ” He stated.
He also reiterated the commission’s resolve to revitalize the market through transparency, integrity and the implementation of new regulations as well as the integration of technology to enhance market operations and investor protection.
”The essence of this week is to tell you that we’ve got your back, no matter where you are, no matter what investments you build in this market, we’ve got your back. We’ve got your back, and as such, what we work with is transparency and integrity. We are bringing value back to this market. We’re not only doing that by talking we’re implementing new regulations, and we’re also bringing to the Space Technology, which is your nest of Kin.” He assured.
Group Managing Director NGX, Temi Popoola, highlighted the Group’s commitment to supporting retail investors and leveraging technology to revolutionize the market. He emphasize the importance of moving away from a single- asset class market, particularly focusing on equities, towards a multi-asset class market.
This strategy according to him aligns with the broader market changes and the NGX’s discharge of its responsibilities, highlighting the company’s proactive approach in adapting to technological advancements to support their subsidiaries and associates.
”The DG spoke about a revolution that is happening in the market around technology, and for us, it is something that we are very passionate about. We are constantly thinking through how to use technology to aggregate across all of these products and the ability to just bring all of the players together to the table and to ensure that these conversations get the much needed air time, as it were. He stated.
Meanwhile, CEO of NGX Limited, Jude Chiemeka reiterated the significance of equipping individuals with the right tools to foster a resilient investment ecosystem. He stated, ”by leveraging the capital gains and dividend potential of equities, younger investors can build wealth more effectively over the long term.”
Other notable contributions included remarks from Femi Shobanjo, CEO of NGX RegCo, on the Exchange’s self-regulatory mandate, and Adedayo Hamzat, GMD of Zedcrest Group, who advocated for technology-driven portfolio diversification.
Abimbola Babalola, Head of Trading and Products at NGX, shared insights on leveraging research and technology for smarter investing, while Dabota Ordor, Head of Retail and Digital Services at United Capital Securities, provided strategies for financial planning, budgeting, and risk management to mitigate market risks.
The Ring the Bell for Financial Literacy ceremony at NGX brought together SEC officials, market leaders, and key stakeholders in a joint commitment to advancing financial literacy.
The week-long activities, executed in collaboration with partners such as United Capital Securities, Zedcrest Group, the Chartered Institute of Stockbrokers (CIS), and the Association of Securities Dealing Houses of Nigeria (ASHON), demonstrated a collective effort to create a more informed, resilient, and empowered retail investor community.
