By; PETER NOSAKHARE, Kaduna
Securities and Exchange Commission (SEC) has said it is committed to making the capital market attractive to all Nigerians.
The Director-General, SEC, Mr Lamido Yuguda, said this during a meeting with a team led by the British Deputy High Commissioner in Abuja on Monday.
According to him, the commission is implementing various initiatives to ensure that products and offerings in the market are accessible to both the young and old which will further deepen the market.
Yuguda said, “The average age of that account holder was over 50, and that made us realise that the young people were not participating in this market and when young people are not participating in any market, that market is doomed to fail.
“And young people today prefer to do things on their phones; if you have to fill a stack of forms manually young people won’t do it. We want to make investing in the capital market a fun experience.”
According to him, the capital market experience starts with a bank account.
“So we decided to look at the whole process and find out what is turning young people off. We have started the process and seen how the tech companies are providing much-needed relief to the kind of bureaucracy that happens in the capital market,” he said.
