UAC Foods’ Oloyede Tasks NGX to Deepen Retail Participation in Stock Market

The chief executive of UAC Foods, Mr Oluyemi Oloyede, said efforts must be made by the regulators to ensure the man on the street understands the stock exchange and the capital market like the back of his hand.

In a post on Sunday, Mr Oloyede specifically gave this task to the Nigerian Exchange (NGX) Limited, noting that it should educate Nigerians on how to trade equities so as to make the space robust, which he insinuated would be good for the economy.

This, he said, can be achieved through an intensive investor education to further improve confidence in the market.

“The Nigerian stock exchange needs to bring the market to the streets, to social media, to the commonplaces where Nigerians can understand what the market is about and break down big concepts to simple, everyday languages. People are putting hard earned money in wrong places,” he said in ... yesterday.

The NGX has been churning out some activities to carry retail investors along, including organising workshops to explain how the market works.

It also recently introduced a cutting-edge web application known as NGX Invest, which is designed to transform the primary market equity capital-raising process, specifically public offers and rights issues.

This online capital-raising platform has been approved by the Securities Exchange Commission (SEC) and was introduced in line with NGX Group’s commitment to market development.

The platform was created to boost retail participation in the capital market, promote financial inclusion and further deepen the pool of available capital in the market by enhancing its capabilities to fulfil the needs of Issuers and other market stakeholders.

Last year, the NGX released a new edition of a unique comic book, StockTown, designed to promote financial literacy among the younger generation of Nigerians.