As part of its commitment to further deepen financial literacy and increase the participation of retail investors in the capital market, the management of the Nigerian Exchange Limited (NGX), in partnership with Zenith Bank and with the support of Africa Prudential took its financial literacy initiative tagged “X-Lit” to the Army Barracks.
Themed “Soldering Wealth: X-Lit’s Exclusive Insights for the Nigerian Military,” held on Thursday, December 7, 2023, at the Nigeria Armed Forces Resettlement Centre, Oshodi, Lagos.
Various experts treated topics around investing, accessing the market with technology, including the recently launched NGX USSD Code, with participants educated on the benefits of fostering a robust investment culture. They also discussed strategies to tap into the abundant opportunities in the capital market.
Speaking on the significance of the event, Dr Irene Robinson-Ayanwale, Divisional Head, Business Support Services and General Counsel, NGX, said the X-Lit initiative is aimed at bringing the market closer to retail investors, including retiring military officers.
According to her, “that is why we themed this campaign ‘Closer to You’ as we want to further deepen the pool of retail investors in our market. We will be rolling this out across the country and reaching out to more demographics including youths, market women and others.”
While addressing the media on the sidelines of the event, Bukola James-Cole, Head, Capital Markets Business, Africa Prudential Plc, noted that the company’s decision to partner the NGX on the initiative, was in realisation of the importance of democratising investing and enhancing financial literacy.
On his part, Chinonso Umeh from the Retail Banking segment at Zenith Bank Plc expressed enthusiasm about collaborating closely with NGX, while commending the exchange for the feat. He reiterated Zenith Bank’s commitment to working together to promote financial literacy among the retail investors.
Caption: Mr. Babalola, an official of the NGX Group fielding questions from the soliders at the event
Participating soldiers commended the parties for organizing the session, stating its timeliness as they were nearing retirement. Some of the participants won gifts in the form of shares in listed companies for answering questions after the presentations.
Picture credits: NGXGroup X handle