• Thursday, June 13, 2024
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Domestic investors have higher stake in Nigerian capital market — SEC

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 The Securities and Exchange Commission (SEC) says domestic investors have a higher stake in the Nigerian capital market than their foreign counterparts.
Mounir Gwarzo, the director-general of SEC, who disclosed this while speaking on the News Agency of Nigeria (NAN) Forum in Abuja, said, enlightenment programmes were being intensified to bring in more of the retail investors.
“In terms of absolute number, the domestic investors have a higher stake than the foreign investors and we are doing a lot of public enlightenment programmes, particularly to bring in the retail investors.
“Our research shows that we have less than two percent of retail investors in our market.
“Whereas, if you look at other jurisdictions – Malaysia has nine percent, South Africa has 19 percent, US has 43 percent and UK has 37 percent of retail investors
“So, part of the reasons why I am here is to solicit the support of the News Agency of Nigeria in terms of our public enlightenment with respect to e-dividend and other initiatives.
“So that we will be able to bring back the retail investors,’’ Gwarzo said.
The SEC boss said that foreign investors seemed to be dictating the pattern of the market in the country because they were more of portfolio investors, who buy and sell.