The Nigerian Stock Exchange (NSE) has reiterated its commitment to promoting financial literacy with its comic series, ‘StockTown’, issued to simplify ways of investing in the Capital Market.
Mr Olumide Orojimi, the Head, Corporate Communications, NSE, said in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos that the NSE had issued the second edition of the comic.
He said that the proliferation of dubious investment schemes that often result in loss of money by unsuspecting members of the public made financial literacy imperative.
“Investor Education is a priority for us at The Exchange. We have identified the need to empower individuals across all levels to make good financial decisions and better their lives now and in the future.
“As the investment landscape continues to evolve to accommodate more retail participants, we are excited to leverage new and existing platforms to present investment products and processes in ways that are both appealing and easy to understand, particularly in this new normal.
“We hope that StockTown becomes a widely-read resource for potential and existing investors, the financially excluded, millennials and the larger public.
“The story picks up from the first edition, following the life of Mora Johnson as she seeks to liberate her family from their financial struggles by investing in the capital market.
“This second edition highlights some major lessons for potential and existing investors including the need for vigilance in avoiding Ponzi schemes and unregulated investments,” he said.
Orojimi advised prospective investors to seek proper guidance before making investment decisions.
According to him, the comic, available in digital format on a dedicated website at www.nse-stocktown.com, builds on the Exchange’s advocacy for safe and trusted investment schemes.
“Readers can look forward to a simplified explanation of the history of the capital market, its evolution over the years, and how anyone can start making investments today in the Frequently Asked Questions (FAQs) section of StockTown.
“StockTown is just one of the many ways NSE demonstrates its strong commitment to promoting financial literacy in Nigeria.
“Even amid the Coronavirus pandemic and the temporary closure of The Exchange’s facilities, NSE continues to host virtual financial literacy workshops with students and young upwardly mobile professionals.
“Furthermore, The Exchange has hosted several webinars on various products including Exchange Traded Funds (ETFs), Green Bonds, and Securities Lending to provide more information to the market on available securities and how to trade them,” he added.
According to him, NSE is a member of the Financial Literacy Technical Committee of the Securities and Exchange Commission (SEC); as well as the National Finance Inclusion Steering Committee led by the Central Bank of Nigeria with a mandate to reduce the level of financial exclusion in Nigeria to 20 per cent. (NAN)