Stakeholders canvass financial literacy, investor protection for better commodity market

Stakeholders have said financial literacy and investor protection would drive growth and inclusivity in the financial market and ensure sustainability in the ecosystem.

They spoke at the sixth Associated Foreign Exchange (AFEX) World Investor Week, organised in collaboration with the Securities and Exchange Commission (SEC) and Financial Literacy Technical Committee (FLTC) in Lagos, with the theme: “Investor Resilience and Sustainable Finance.”

Vice President, of Financial Markets at AFEX, Oluwafunto Olasemo, said the event was to spotlight the importance of investor education and protection, while also promoting financial literacy and inclusion to engender shared prosperity in the commodity market.

She said her organisation and market players had invested in financial education to enhance literacy among investors and improve participation.

Olasemo hinted that AFEX has in the last eight years executed a number of campaigns to deepen financial knowledge and confidence through learning materials, data-driven market reports, webinars and outreaches to shore up participation in the market.

Managing Director, FBN Quest, Fiona Ahime, advised investors to embrace diversification.

According to her, achieving investor resilience and sustainable finance required a broad-based effort by capital market players to provide investors with the requisite tools and knowledge to make informed decisions.

She noted that addressing the core areas calls for market integrity to ensure a thriving market and shared prosperity for everyone.

Managing Director of Forthright Securities, Charles Egbunonwo, stressed the importance of financial literacy to unlock potential in the commodity space.

He said if stakeholders must truly diversify the economy, commodities remained one of the key products to consider.

“We are all aware of what is happening in our economy. A mono-product economy that is only oil-based, and we have huge potential in the commodity space.

So, we need to diversify this economy, and commodity is one of the key products to look at,” Egbunonwo added.