- The Securities and Exchange Commission (SEC) is encouraging young Nigerians to consider investing in the capital markets
- Despite a recent rise, the commission is concerned that many young Nigerians are not interested in investing in stocks.
- Meanwhile, the cryptocurrency market has yet to recover from the losses suffered towards the end of 2022.
The Securities and Exchange Commission, or SEC, has encouraged young Nigerians to participate in capital market trading.
Lamido Yuguda, Director General of the Securities and Exchange Commission, said so at a recent meeting.
According to him, the market has a variety of items and finances that would appeal to young Nigerians.
Given the average age of 50, he noted that most young Nigerians were not interested in participating in the country’s capital markets.
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“The average age of that account holder was over 50, which made us realize that youth were not participating in this market, and when youth are not participating in any market, that market is going to fail.
“And today, young people want to do things on their phones; if you have to physically fill out a pile of paperwork, they won’t do it. We want to make investing in the stock market enjoyable.”
Yuguda also noted that the commission has begun to examine the entire process to see what is discouraging young people.
“We have started the process and have seen technology companies bring some much-needed relief to the kind of red tape that occurs in the capital markets.”
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