The Securities and Exchange Commission, SEC has said that it has increased efforts to encourage retail investors to invest in the capital market in a bid to Create wealth, deepen the market and grow the nation’s economy.
Acting Director General of the SEC, Ms. Mary Uduk who spoke to journalists in Lagos on the sidelines of the Thisday Awards 2020, urged investors to look into the capital market for future investments as various products abound that would suit their needs.
According to her, “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 10,000 naira and you can buy in subsequent amounts of 1,000 naira.
“We have 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 5,000 naira. 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.
Uduk said it is 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.