SEC Nigeria stands up for the Retail Investor
Dear Africa interested individuals: On Monday, April 25, 2016, I wrote an article on this blog titled: "Nigeria All-Share Index: Retail investors will determine how it moves." I have been a vocal proponent of retail investors being given the necessary support to return in droves to the Nigerian stock market and for their outstanding grievances to be addressed e.g. the dividends not yet paid out for banks that were taken over by the Central Bank (Bank PHB, Afribank etc) during the tenure of Sanusi. Where is the money? No one is talking. The Nigeria Stock Exchange (NSE) leadership has a different opinion. Retail investors should be pushed to invest indirectly in the marketplace by investing in mutual funds instead of directly purchasing equities into their own accounts. Some mutual fund companies were even engaged by the NSE to do investor education (of course marketing their funds) to retail investo