NGX RegCo CEO advocates increased female participation in capital market

Nigeria’s capital market could see significant growth through increased female participation, according to Olufemi Shobanjo, CEO, NGX Regulation Limited.

While speaking at the second edition of the Fintribe Finance Fair, themed “Women, Wealth, and Power,” Shobanjo emphasised the transformative impact of women’s financial empowerment on communities.

He noted that Nigerian Exchange Group has developed tools including NGX Invest and USSD Code, *5474#, to simplify access to the capital market.

Shobanjo advised participants to set clear financial goals and adopt long-term investment strategies while acknowledging persistent gender gaps in workforce participation and income equality.

Also speaking at the FinTribe Finance Fair 2024, Jennifer Awirigwe, The FinTribe founder echoed this sentiment, urging women to leverage capital market opportunities for wealth creation.

The one day workshop held at the weekend convened over 7,000 female participants aimed to improve financial literacy which will accelerate their access to financial services, build wealth, contribute to gender equality and economic empowerment. The event, which attracted young professionals and emerging leaders, continues to advance financial literacy and inclusion for women in Nigeria’s financial sector.

“The goal is to get more women in the market, investing in the Nigerian exchange and it’s happening, because now, a lot of women in our community keyed into some of the opportunities offered and now we want to take it to people outside the community,” Awirigwe said.

She noted that the programme is designed for women to walk up to any investment banks, financial platforms, being present to guide them on registration and how to make investment. “We are pushing financial education and inclusion for women in Africa, that’s the goal,” she said.

Shaffy Bello, a Nollywood actress who doubled as a guest speaker at the Finance Fair added that every woman needs to make her own money to get their full potential and recognition in the society.

She said, “For a woman to become an asset, she has to be a financial woman, she has to be someone who owns her own, who makes her own money and that’s why forums like this are very important, to activate our young women and our older women,” she said.

Beatrice Okemute, one of the participants urged to invest their money into foreign exchange and other financial assets that can yield interest for them. “Women should learn to be financially intelligent, know how to invest, be supportive, make financial impacts and also touch lives with their resources,” Okemute said. She advised them not to always be at the receiving end but should learn to be productive.