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NGX to Tutor Retail Investors on Choosing Stocks to Trade

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Choosing Stocks to Trade

By Dipo Olowookere

Investing in the stock market is simple but a bit tricky because it involves careful analysis of the securities to buy, keep and then sell if necessary when they must have yielded the expected return on investment (ROI).

Some investors do not have the patience to carry these vital steps and at the end of the day, they conclude that investing in the market is a waste of time or a gamble.

This is one of the reasons the Nigerian Exchange (NGX) Limited is organising a series of seminars for retail investors to drive investor education and equip them with the necessary tools to succeed in the market, especially in a post-pandemic era.

In the heat of the COVID-19 crisis in 2020, the exchange was running and busy as domestic investors, after the exit of their offshore counterparts due to the fears of uncertainty, took control of the market, buying stocks selling at low prices and selling when things normalised.

To further deepen their participation and help with choosing stocks to trade, the NGX is hosting its 4th Retail Investor Workshop this year on Tuesday, November 16, 2021.

The webinar with the theme Creating an Investment Portfolio That Works in a Post-COVID Era is in line with the exchange’s aim to drive the development and promotion of retail participation in the capital market.

To educate existing and potential investors on market opportunities, the event will feature presentations from industry experts from the broker community and the NGX team and interested participants have been urged to register at https://bit.ly/NGX_RICW.

“At NGX, we remain committed to creating awareness around the diverse investment instruments available on our platform and how these can help investors achieve their financial objectives under any condition.

“This is particularly important given the unprecedented changes brought about by the COVID-19 pandemic and how it has changed the way individuals, organisations and economies operate today.

“The Retail Investor Workshop will, therefore, stimulate conversations around ethical investing, maximizing returns on investors’ portfolios and minimizing risks through portfolio diversification,” the Divisional Head of Trading Business at NGX, Mr Jude Chiemeka, stated.

Through platforms such as the Retail Investor Workshop, the exchange continues to respond to the growing need for increased retail participation.

With its plethora of innovative products and services, it continues to build a vibrant capital market, deepen activity, improve liquidity and create long-term value for all stakeholders.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Economy

Access Holdings to Buy Foremost PFA First Guarantee Pension

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First Guarantee Pension

By Dipo Olowookere

Access Holdings Plc, in a bid to expand its revenue streams, is proposing to acquire a majority equity stake in a leading pension fund administration (PFA), First Guarantee Pension Limited.

The Group Chief Executive Officer of Access Holdings, Mr Herbert Wigwe, disclosed that the deal is in line with the ambitious plans of the organisation to become the major provider of financial services in Africa.

He stated that the company wants the lion’s share of the PFA because it has the structures and a track record to deliver superb services to customers and with cutting-edge technology and tested and trusted corporate government and high standards of professionalism, it will manage the pension assets of its clients.

“This transaction is a natural evolution for us. Over the last 20 years, we set our sights on and delivered ambitious plans to transform the African financial services landscape focusing on banking and have created the Africa leading bank and the largest bank by customer base,” Mr Wigwe was quoted as saying in a statement signed by the company secretary, Mr Sunday Ekwochi.

Speaking further, the renowned banker said, “The large customer base both on the wholesale and retail segments makes the pension business a natural fit for the corporation given its objective of ecosystem optimisation.”

“We will leverage our well-established culture of strong corporate governance, risk management, cutting-edge technology and digital capabilities to deliver high standards of professionalism of pension assets to the benefits of our stakeholders,” he assured.

It was disclosed that the Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom) have given their ‘no objection’ to the transaction. However, the completion of the deal is subject to the receipt of all required regulatory approvals.

Access Holdings said the transaction is a consequential step in its evolution from a narrow banking business into a financial service holding company positioned to gain relevant scale across Africa, global monetary centres and beyond-banking verticals

Business Post recalls that in August 2011, PenCom took over the management of First Guarantee Pension due to “incessant shareholders squabbles and several issues of adverse corporate governance in the PFA.”

An Interim Management Committee was then formed to pilot the affairs of the company.

The regulator had said the action was taken based on the powers conferred on it by the Pension Reform Act 2004 (PRA 2004) and in the exercise of its statutory mandate of protecting the pension fund and assets.

The PFA was established in 2004 as a limited liability company and its vision is “to be the PFA of the first choice in Nigeria reputed for real wealth creation and excellent customer service through consistently superior and sustained return on investment to all stakeholders.”

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Economy

FBN Holdings to Take Over Access Bank’s Pension Fund Custodian Business

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First Pension Custodian Access Pension Fund Custodian

By Aduragbemi Omiyale

A Nigerian financial group, FBN Holdings Plc, has taken another step to enhance its earnings by acquiring the pension fund custodian business of Access Bank Plc.

FBN Holdings is making this acquisition possible through one of its subsidiaries, First Pension Custodian, and it involves the total control of Access Pension Fund Custodian Limited.

A notice from both organisations disclosed that the transaction involves the transfer of a 100 per cent stake of Access Bank in the pension fund business to FBN Pension.

At the moment, the Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom), the two key regulators of the two transacting companies, have given a “no objection” to the deal.

However, the sale is yet to be finalised as approvals of other regulatory agencies are being awaited.

“FBN Holdings Plc wishes to notify the Nigerian Exchange (NGX) Limited and the investing public that First Pension Custodian, a subsidiary of FBNH’s flagship subsidiary, First Bank of Nigeria Limited, has entered into a definitive agreement with Access Bank Plc for the planned acquisition by First Pension of 100 per cent share capital of Access Pension Fund Custodian Limited held by Access Bank Plc.

“The Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom) have given their ‘no objection’ to the transaction, with completion subject to the receipt of all required regulatory approvals,” a disclosure from FBN Holdings signed by Adewale Arogundade, the acting company secretary, said.

On its part, Access Holdings Plc said it “announces today that its subsidiary, Access Bank Plc, has entered into a definitive agreement with First Pension Custodian Nigeria Limited regarding a proposed purchase by First Pension of the entire share capital of Access Pension Fund Custodian Limited held by Access Bank.

“The National Pension Commission and the Central Bank of Nigeria have given their ‘no objection’ to the transaction,” Mr Sunday Ekwochi, the company secretary, disclosed.

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Economy

CBN Laments Failure of Oyo Farmers to Repay Agric Loans

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tomato farmers in Nigeria

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has lamented that the majority of farmers who benefited from the Anchor Borrowers’ Programme (ABP) in Oyo State have not repaid their loans.

This call was made by Mr Sadeeq Ajayi, a CBN Development Finance Office in Ibadan at the Agribusiness Innovation Clinic.

He appealed to farmers who defaulted in paying back the agric loans to pay back, saying that the inability of the apex bank to recover the loans from the defaulting farmers had threatened the scheme, adding that it has prevented other farmers from accessing the facility.

The CBN official made the call at a clinic entitled Fostering Innovation and Collaboration Across the Agricultural Value Chain organised by the Global Alliance for Improved Nutrition (GAIN).

ABP is an agricultural loan scheme launched in 2015 by the federal government, through CBN, to provide loans (in kind and cash) to smallholder farmers to boost agricultural production, create jobs, reduce food import bills toward conservation of the foreign reserves.

“While the Anchor Borrowers’ Programme has recorded some level of success, the failure of farmers to repay the loans has, however, been a major setback.

“Many of the farmers refused to pay back their loans due to the misconception that since CBN is the lender, the loan is a ‘national cake’ and they do not have to pay back what they consider theirs as citizens.

“This attitude has made it difficult for other farmers, who also want to access the loan, to benefit from the scheme,” he said.

Mr Ajayi said that stakeholders, including the traditional rulers, should appeal to the defaulting farmers to promptly repay the loans for the sake of others.

“Of course, we are engaging various stakeholders and we expect the narrative to change very soon so that more people can have access to the fund,” he said.

In his keynote address, Mr Olasukanmi Olaleye, the Oyo State Commissioner for Trade, Industry, Investment and Cooperatives, lauded the initiative of GAIN to tackle malnutrition in the country.

Mr Olaleye, represented by Mr Mukaila Oladipo, a Deputy Director in the ministry, said that food fortification is one of the safest, most effective and affordable ways of addressing the micronutrient gaps in the country.

Also, Mr Godwin Ehiabhi, a Senior Project Manager, GAIN Nigeria, said that improved access to safe and nutritious food would reduce the country’s high rate of malnutrition.

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