The Securities and Exchange Commission says it is committed to making the capital market attractive to Nigerians of all ages and economic classes.
He disclosed that the recently approved e-offer for MTN witnessed increased patronage from Nigerians, especially the younger age bracket.that its 2021 primary offer was oversubscribed by 139 percent, with as many as 6.6 million Nigerians now holding the telco share — directly or indirectly.The telco giant said 76 percent of successful applicants via digital platforms were women and 85 percent under 40 years old.
“When we assumed office, we were shocked to know that the average age of the Central Securities Clearing System account holder was over 50 years. The CSCS is a depository, so if you are investing in equities, you must have a CSCS account,” he said.“The average age of that account holder was over 50, and that made us realise that the young people were not participating in this market and when young people are not participating in any market, that market is doomed to fail.
According to him, the e-offer for MTN is one of the steps, among other initiatives already outlined, to make investing in the capital market a much better experience for investors, both young and old.