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By Aduragbemi Omiyale

It is a fact that the Nigerian capital market is largely dominated by people in their 40s and above, with millennial investors preferring to put their funds in foreign exchange (FX), cryptocurrency and others.

To these young investors, the stock market and others are for the older persons and this is giving stakeholders in the capital market something to worry about.

On Tuesday, March 15, 2022, the Nigerian Exchange (NGX) Limited in collaboration with Bamboo Invest and Africa Prudential Plc hosted a webinar tagged Increasing Retail Participation through Digitalization.

The aim of this event was to highlight the opportunities for the growth of retail investor participation in the Nigerian capital market.

Speaking on Understanding Millennials in the Capital Market, the Chief Operating Officer of Bamboo Invest, Ms Yanmo Omorogbe, said young investors can be attracted to the capital market if some things are put in place.

“Millennial investors are interested in companies with great fundamentals and compelling narratives, companies that make consumers rethink their behavior and companies building the next set of critical digital infrastructure,” she told participants.

In his presentation, the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka, highlighted the exchange’s efforts in increasing retail participation across its ecosystem.

“Retail participation in the capital market has continued to soar across the globe over the years and this growth can be attributed to a number of factors including technological advancements and digital innovations.

“NGX has leveraged these global trends to increase retail participation in Nigeria by introducing inclusive financial products and technology to deepen the Nigerian capital market.

“In 2017, the exchange collaborated with the Debt Management Office (DMO) to launch the FGN savings bond aimed at enhancing savings culture among Nigerians while providing all citizens, irrespective of income level, an opportunity to contribute to national development.

“NGX also launched X-Mobile a dynamic and user-friendly mobile app, designed to enhance investors’ participation in the Nigerian capital market. We will continue collaborating with organizations with proven and reliable technological solutions to adapt digital trends and technologies that have high potential to attract retail investors.”

NGX continues to respond to the growing need for increased retail participation in the market through its products and services, advanced strides in the use of technology and more frequent engagements across touchpoints.

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