FBN Holdings Urges Investors to Seek Guidance from Financial Advisors to Improve Returns


Wednesday, June 23, 2021 / 8:52 AM / FBN Holdings / Header Image Credit: FBN Holdings


FBN Holdings (FBNH) Plc has advised investors in the country's capital market to get financial advice from qualified and registered financial advisers before making investment decisions. The Chief Financial Officer (CFO) of FBNH, Mr. Oyewale Ariyibi, said this at a recent Capital Market Correspondents Association of Nigeria (CAMCAN) knowledge sharing session.


Ariyibi said financial advisers would guide investors on which stocks to invest in to maximise returns on their investments. "As an investor, investing in financial markets is not a gamble or bet, you need a financial adviser to assist in making investment decisions"

"You should invest money you do not need immediately. Investors should invest for the medium and long-term, also invest in stocks that have good fundamentals for capital gains," Ariyibi said.


Speaking on the theme: "Understanding Financial Statements for Business Reporting," he raised an awareness on the value derived from financial statement of a company.  

Ariyibi said: "A financial statement represents a formal record of the financial activities of an entity; it reflects the financial effects of business transactions and events on an entity.


"It is prepared by following certain logical and consistent accounting principles; and it is usually audited to ensure accuracy for tax, financing, or investing purposes."


Explaining the relevance of financial statements to user, he said "For Management, it is used for planning, controlling and decision-making process, to evaluate the organisational performance and position, so that the necessary measures are taken for improvement.


"For shareholders and investors, financial statements can be used to analyse the viability and profitability of their investments and to assess the ability of the business/organisation to pay dividends and determine any future course of action.

"While employees and trade union can use them to evaluate the financial health of the business with a view to determining their job security, the possibility of future remuneration, retirement benefits and employment opportunities."


Ariyibi said it helps in ensuring that the business operate in accordance with laid down rules and regulations aimed at protecting the interests of the stakeholders. He added that regulatory authorities/agencies rely on company financial statement, while bankers and creditors assess the financial capacity/capability of the company, its creditworthiness and going concern with the financial statement.


On the adoption of the IFRS, Ariyibi said it has brought some level of transparency. "It has improved transparency and I feel is a good thing" he said.

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