COVID-19 Triggered Need for Alternative Sources of Income—Chiemeka

By Dipo Olowookere

The Divisional Head of Trading Business at the Nigerian Exchange (NGX) Limited, Mr Jude Chiemeka, has disclosed that the need for alternative sources of income other than salaries or profits from businesses became more important to individuals by the COVID-19 pandemic.

He said this on Tuesday, November 16, 2021, at the retail investor webinar organised by the exchange themed Creating an Investment Portfolio That Works in a Post-COVID Era.

Mr Chiemeka stated that this was one of the reasons the exchange came up with the webinar to educate investors, especially those in the retail end.

“The advent of the COVID-19 global pandemic, amongst several important lessons, emphasized the need for individuals to have alternative sources of income other than salaries or profits from businesses.

“In the post-pandemic era, people are faced daily with the problem of finding credible investment platforms to grow their wealth. This problem is even further complicated by the proliferation of Ponzi schemes promising high and unrealistic returns, hence the need for investors’ education.

“At NGX, we, therefore, continue to prioritise investor education to ensure that investors understand capital market investments and mechanisms, as only then will they be empowered to make sound investment decisions,” he said.

He further highlighted that as a multi-asset Exchange, NGX has various products like equities, fixed incomes, Exchange Traded Fund (ETFs) and derivatives for every investor regardless of what their investment goals, risk appetite or return expectations may be.

The webinar featured two presentations the first of which was presented by Mr Joshua Olutola, Senior Equity Trader, ARM Securities Limited with the theme Building Your Own Portfolio.

Taking participants through the topic, Opportunities for Diversification in Nigeria’s Capital Market was the Head, Secondary Markets, NGX, Mr Franklin Nwaubani, while the closing remark was given by the Head of Retail Investor Coverage at NGX, Mr Olumide Orojimi.

Over the years, NGX has shown relentless commitment to deepening retail participation in the capital market by organizing various investors’ education programs to equip existing and potential investors with adequate knowledge and skills to effectively manage and grow their financial resources.

These efforts received a boost with the recently launched X-Mobile app. The dynamic and user-friendly mobile app was designed to enhance investors’ participation in the Nigerian capital market.