There are other efforts put in place by the Securities and Exchange Commission through the activities of the Technical Committee on Commodities Trading Ecosystem which draws members from various stakeholders in the commodities ecosystem including the Central Bank of Nigeria, Financial Markets Dealers Quotations , Nigeria Stock Exchange , Standards Organization of Nigeria , Bank of Agriculture , The Nigeria Incentive-Based Risk Sharing System , Financial Systems Strategy , AFEX Commodities...
He added that the Commodities Exchange allows for people to be able to engage in buying and selling of commodities through a broker, saying that “Nigeria is an advanced country in technology, unlike commodity market in other parts of the Africa which still engage in what is called the ‘call over system’ Nigeria has moved from the call over system to digital instruments that can be that can be traded reflecting the commodity whereby people can now use their systems to trade.
Finally, commodity investing/trading should be encouraged in an emerging economy like Nigeria given its low margin, transparency, risk management, and benefits to economic parameters like farmers that have been neglected over the years. The uncertainties surrounding the stock market and other investments during a period of high inflation like this could be hedged by investing or diversifying into commodities.
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