• 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.

Bitcoin Still Struggles Photo Credit: Dreamweaver

Given the average age of 50, he noted that most young Nigerians were not interested in participating in the country’s capital markets.

PAY ATTENTION: Share your outstanding story with our editors! Contact us via info@corp.legit.ng!

read also

US Fed official favors smaller rate hike in February

Yuguda said:

“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.

added:

“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.”

Bitcoin lost more than 60% of its value in 2022

Bitcoin investors had a rough year in 2022, as their investments dropped sharply during the year.

read also

Microsoft says it will lay off 10,000 employees because of the bad economy

Data shows more than 60 percent of bitcoin’s value wiped with $2.1 trillion lost

It could be a tougher year for the market due to low trust among the bitcoin community and outsiders.

Source: Legit.ng