In line with its bid to further deepen financial literacy knowledge in the capital market and increase the participation of retail investors in the capital market, Nigerian Exchange Limited (NGX) has taken its innovative financial literacy initiative, X-Lit to the Army Barracks.

The session, themed “Soldering Wealth: X-Lit’s Exclusive Insights for the Nigerian Military” took place on Thursday, 07 December 2023 at the Nigeria Armed Forces Resettlement Centre. Topics treated bordered around investing, accessing the market with technology and the NGX USSD code. Representatives from Africa Prudential and Zenith Bank also spoke to the retiring officers and other attendees of military affiliation.

Speaking on the significance of the event, Dr Irene Robinson-Ayanwale, Divisional Head, Business Support Services and General Counsel, NGX noted that NGX launched the X-Lit initiative to bring the market closer to retail investors of which retiring military officers formed part of. “That is why we themed this campaign ‘Closer to You’ as we want to further deepen the pool of retail investors in our market. We will be rolling this out across the country and reaching out to more demographics including youths, market women and others.”

Bukola James-Cole, Head, Capital Markets Business, Africa Prudential Plc noted while speaking to the media on the sidelines of the event that the company, in the realisation of the importance of democratising investing and financial literacy, partnered with NGX on the initiative.

In his part, Chinonso Umeh, Retail Banking at Zenith Bank Plc expressed enthusiasm about collaborating closely with NGX. He commended NGX for its achievements and reiterated Zenith Bank commitment to working together to enhance the exchange’s financial literacy to the retail investors’.

Participating soldiers commended NGX, Africa Prudential and Zenith Bank for organizing the session, stating its timeliness as they were nearing retirement. Some of the participants won gifts in the form of shares in listed companies for answering questions after the presentations.