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Wednesday, November 04, 2020 / 12:00 PM / by AFEX / Header
Image Credit: AFEX
AFEX Commodities Exchange Limited (AFEX), Nigeria's
first private sector commodities exchange firm, joined the Securities and
Exchange Commission (SEC) to Ring the Bell for Financial Literacy at an event
held at the Exchange office on the 3rd of November 2020. The event which saw
the attendance of the Executive Commissioner (Operations), SEC, Mr. Dayo
Obisan, represented by Mr Emomotimi Agama alongside members of SEC's Market
Infrastructure and Innovation Department allowed AFEX to reiterate its
commitment to driving initiatives that promote investor education and
protection, which is a key focus of the Commission.
Financially literate market participants are better
enabled to take advantage of new opportunities in the capital market and drive
up the level of activities and diversity in the market. As a commodities
exchange, AFEX has worked on furnishing the need for information about the
commodities market and the commodities trading landscape in Nigeria, allowing
for greater participation by an increasing number of retail and institutional
investors in the market. The Exchange has designed and executed a robust education
campaign that includes both online trainings and digitally distributed learning
materials, enabling AFEX to reach various audience groups and satisfy their
unique education needs.
Ayodeji Balogun, the CEO of AFEX, speaking at the
event said "Our vision is to grow our education campaigns into an
open-source library of content for commodity exchanges in Africa. The content
will span across membership procedure, market access, trading strategies, and
community engagement, and will be accessible to investors at the click of a
button. We are glad about and align so strongly with the Securities and
Exchange Commission's focus on investor protection and education and ring the
bell for financial literacy."
The Head, Registration, Exchanges, Market Infrastructure
and Innovation, at SEC, Emomotimi Agama said, "We aim to facilitate the
dissemination of information about Nigeria's capital market that provides
investors with the critical knowledge required to make better decisions about
investing in the market. We are happy that together with key stakeholders like
AFEX we can facilitate this movement of financial literacy".
Initiatives like knowledge-sharing sessions, video
tutorials, one-on-one with financial experts and detailed reports on commodity
value chains are being incorporated into AFEX's technological platforms to
access important trading data, trends, and financial information, thereby
bringing support and growth to the commodities market.
Financial literacy on the intricacies of how
commodities market work is one of the key ingredients to de-risking the sector,
building trust, and growing markets for a sustainable food system. The holistic
approach AFEX and SEC are taking to ensure a viable commodities ecosystem will not only help to understand the advantages of
commodities as an alternative investment option but also grow people's trust in
the system and between key players in the value chain. Additionally, this
synergy will create unprecedented opportunities for investors and farmers to
access financial growth. AFEX alignment with SEC will bring millennials and
Generation Z to the commodities exchange ecosystem as future operators,
protecting them against price volatility/inflation and help diversify their
portfolio as investors.
Related News on AFEX
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ACI
Experienced a Positive Performance - AFEX Commodities Weekly Report 291020
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Nigeria Causes Price Surge - AFEX Commodities Monthly Report
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