NSE tackles capital market illiteracy with comic book
By Omobayo Azeez
The Nigerian Stock Exchange (NSE) has issued the second edition of its comic, StockTown, a book dedicated to providing financial literacy education to Nigerians.
This effort towards deepening financial literacy is imperative to stem the proliferation of dubious investment schemes that often result in loss of money by unsuspecting members of the public, the NSE management stated on Wednesday.
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.
Olumide Orojimi, head, corporate communications, NSE, said 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.
According to him, this second edition highlights some major lessons for potential and existing investors including the need for vigilance in avoiding Ponzi schemes and unregulated investments, whilst advising prospective investors to seek proper guidance before making investment decisions.
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, he said.
“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,” Orojimi was quoted in a press statement.
StockTown is one of the many ways NSE demonstrates its strong commitment to promoting financial literacy in Nigeria.
Even amidst 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.
It should also be recalled that 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 (CBN) with a mandate to reduce the level of financial exclusion in Nigeria to 20 per cent.