The Nigerian Stock Exchange (NSE) organized a Retail Investor Coverage Workshop, themed, “Investment Masterclass: Making Your Money work”, on Monday, May 13, 2019, the NSE event centre in Lagos. The event which featured presentations from key industry influencer market specialists and investment strategists across Nigeria was designed to 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 expose them to retail investment opportunities available in the capital market.
In his remarks, the Divisional Head, Trading Business, NSE, Mr. Jude Chiemeka, said that “Nigeria has a population of over 190 million people and is the largest economy in Africa. However, the current financial inclusion indices of 48 percent leave much to be desired. Currently, there are about three million retail investors in the Nigerian capital market, representing only three percent of the total adult population in the country”.
“Financial inclusion is a priority for stakeholders in the capital market and the 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. The Exchange recognizes the need to improve investor participation and we are leveraging recent capital market initiatives such as the tiered Know Your Customer 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 had begun to yield positive results as the market had, in recent times, witnessed an upturn in retail investor participation. The market data from 2019 showed that retail investors outperformed institutional investors by eight percent in January, and again by two percent in March 2019”.
According to Chiemeka, the Retail Coverage Department of NSE will be rolling out measures directed at encouraging retail investor involvement in the capital market. Over the next few years, various investment workshops will be held across the country.