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NGX, partners advise young Nigerians on investment

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NGX, partners advise young Nigerians on investment

The Nigerian Exchange Limited (NGX) is continuing its mission to promote financial literacy among young Nigerians by celebrating the 2023 edition of Global Money Week (GMW) at the Exchange.

In partnership with the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC) and NGX Regulation Limited (NGX RegCo), over 100 students were educated on the theme of “Plan your money, plant your future” in order to raise awareness for the importance of financial awareness and sound financial decisions.

The Divisional Head of Capital Markets at the NGX, Jude Chiemeka, encouraged parents to nurture and guide their children during their formative years, emphasizing that the decisions they make now will shape their future.

“We must also recognize that our individual financial health is closely linked to the health of the planet and of society as a whole. The choices we make about how we earn, spend, save, and invest our money can either contribute to or undermine the sustainability of our world. As such, it’s essential that we all adopt a responsible and informed approach to financial decision-making that considers the impact of our choices on our environment and society.”

Speaking on other NGX-led financial literacy initiatives, Mr Chiemeka noted that beyond offering a range of educational resources, the Exchange has a comic book series named NGX StockTown with the goal of using illustrations to raise the next generation leaders who are financially aware, responsible and skilled economic citizens.

The celebration which culminated in a Closing Gong ceremony had the overall winners at the quiz session held at the Exchange close the market by sounding the gong. They were also gifted shares with the firstprize winner receiving N80,000 worth of shares while the first and second runner-ups won N70,000 and N50,000 worth of shares respectively.

Mr John Achile, Principal Manager, the Market Development Department, SEC and Mr Abubakar Albasu, Principal Manager, Head of the Advocacy Office, Consumer Education and Evaluation Division of Consumer Protection, CBN, highlighted the importance of market regulation and investor protection. Mr Abimbola Babalola, Head, Market Surveillance and Investigation, NGX RegCo, delivered a presentation on the rudiments of money and the technicalities of the capital market.

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Mr Abdulkareem Kelani, Sales Trader, Meristem Stockbrokers and Mr Mohammed Jamie, Head, Securities Dealing, APT Securities also contributed to improving the students’ knowledge capacity about the stock market. Other partners at this event were MinieMoney, AIESEC Lagos and Junior Achievement Nigeria (JAN).

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