Adedapo Adesanya
By Adedapo Adesanya
The acting Director-General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has encouraged retail investors, especially low-income earners, to look into the capital market for opportunities.
Ms Uduk made this known on the sidelines of the 2020 THISDAY awards held recently, saying that SEC has tailored various products for retail investors in the capital market.
“You don’t need to have so much money to be able to tap into the opportunities available in the capital market. For instance, with the government bond, the minimum investable amount is N10,000 and you can buy in subsequent amounts of N1,000,” she explained.
She noted that the commission had put in place affordable retail investments through the collective investments schemes (CIS).
“We have the stocks that you can buy through the stockbrokers and those you can invest in with as little as N5,000.
“So you don’t necessarily have to have a lot of money to invest, all you need is to approach the stockbrokers. They can open an account for you and whatever you have you can pay into the account and give instructions in what kind of investments you want to make,” she said.
The SEC Chief said it was important for people to understand the workings of the capital market and not have the misconception that they must have a lot of money before they can invest.
“We have to disabuse our minds of it. I think that is what is leading people into putting money into Ponzi schemes and lose their money.
“So, all you need to do is to go to SEC website, see the list of capital market operators and approach one of them to open an account,” she said.
She further reiterated the SEC’s commitment to protection investors in the capital market, saying, “SEC is very interested in investor protection and that is why we have rules that the players must obey and all these are channelled towards ensuring that our market is safe for investors.
“The smaller the investors, the more he/she is protected. We don’t want any investor to go into the market and lose money, that will not be good for our market.”
Ms Uduk said the SEC has continued to educate and enlighten Nigerians about the investment opportunities available in the market and urged potential investors to engage professionals who will guide them on relevant products to invest in.
“In the past, people just go to stockbrokers to buy stocks without having proper knowledge of what to buy but now we are encouraging people to go through the investment schemes,” she added.
