Caption: From left, Executive Commissioner Operations, SEC, Bola Ajomale; Managing Director, AFEX Investment Limited (AFEX), Samirah Ade-adebiyi; and Vice President, Financial Market, AFEX; Oluwafunto Olusemo, at the Opening Ceremony of the World Investor Week 2024 on Wednesday
Nigeria’s Securities and Exchange Commission (SEC) says it is targeting investor education and digital finance to enhance the growing interest in financial technology, especially by young people to deepen capital market participation.
Director-General of the SEC, Dr. Emomotimi Agama, who disclosed this at the ongoing IOSCO World Investor Week held in Lagos, on Wednesday, emphasized the importance of equipping Nigerian investors with the right knowledge and tools to safely navigate the evolving financial landscape.
According to Agama, who was represented by the Executive Commissioner, Operations, Bola Ajomale, “when you are talking about digital finance for for rural communities, it can’t be anyone other than the commodities markets. They are right there in the most rural of communities, getting their products from the farm into the markets, in fact, into the ports, into other countries.
“It is also critical that we discuss it, because Mr. President has an aim to get to a $1 trillion economy. This is the way we are going to do it. It is by us, encouraging investors, encouraging investments, and also projecting to the world that we do have a safe, investable environment. It is only by investments that we know growth,” he added.
According to him, “with the increasing role of technology in financial services, it is essential that investors are empowered with the right information to avoid risks such as scams and unregulated schemes. The future of Nigeria’s capital market depends on an educated and engaged investor base”.
Through this initiative, Agama said, the commission is bringing investors to the capital market, and ensuring that marginalized groups, such as rural farmers, can partake in financial opportunities, further driving Nigeria’s economic growth.
For him, “our direction is protecting investors, and one of the ways by which you can protect investors is obviously by equipping them with knowledge and giving them the know how to discern between what is a good investment and what is not a good investment.
“I am not talking about this in terms of returns. I am talking about in terms of safety, in terms of avoiding risk, in terms of avoiding a Ponzi scheme, or spotting a Ponzi scheme when it’s there, or spotting a scam, or even just taking care of your assets. So that is our primary objective at the SEC, and it is by various ways”.
The day’s initiative, hosted by SEC in partnership with AFEX Commodities was aimed at bringing together stakeholders from the financial and investment sectors, government, and media.
Speaking at the event, the Chief Executive Officer of AFEX Commodities Exchange, Ayodeji Balogun said that the rise of digital finance is reshaping how the public trade , invest, and build economic value.
Represented by Vice President, Financial Market, AFEX Oluwafunto Olasemo , Balogun said that AFEX remains committed to connecting rural communities and small-scale producers to broader markets, ensuring no one is left behind in this technological revolution.
At AFEX, he stressed, “our vision has always been to create transparent, efficient and robust commodities exchange that empowers the economy and transforms lives, we recognize that none of this is possible without dedication, insights, collaboration with key stakeholders like the SEC, whose role in shaping Nigeria’s capital market is invaluable, and today’s event is a testament to a collective commitment to fostering innovation, trust and growth within the commodities ecosystem”.
Also speaking at the event, co-founder of HerVest, Yomi Ogunleye, highlighted the financial gender gap, stating, “The gap is quite wide. At HerVest, we’re trying to bridge that gap by providing women access to services like savings and impact investments.
“Small women farmers constitute about 70 per cent of the agricultural sector, yet only 10 per cent have access to finances. We currently have over 50,000 users, both in rural and urban areas, whose lives have improved over time through our services,” he added.
A highlight of the event was the launch of a comic book titled ‘Tradevers,’ aimed at fostering investor education.
