From Adanna Nnamani, Abuja
A Financial technology (FinTech) company, Equity, has shone the spotlight on the Nigerian financial industry and the benefits of e-commerce. He also revealed steps to revolutionize the country’s FinTech space as well as plans and strategies to bring three million Nigerians to financial literacy.
Its Country Manager, Equiti, Mr. Emmanuel Okwara explained that the global financial market comprises so many assets ranging from currencies, stocks, euros, UK and US stocks and precious metals like gold, commodities agricultural products like cotton: “When it comes to online trading, we want to provide education for people to learn how to trade profitably.
“Besides training people to trade, we also provide a platform where we have a lot of software that can help make trading easy and smart. We provide financial literacy, because we’ve found it’s quite unfortunate that despite our population, Kenya has a higher percentage of financial literacy than Nigeria.
“We are the first to obtain a license from the capital market authorities in Kenya. We hope to expand by opening offices in Lagos and Port Harcourt. And we also hope to have operations in South Africa, Cameroon, Ghana and other African countries. Outside of Africa, we are present in the UK. We also have an office in Jordan and Dubai, United Arab Emirates (UAE). Apart from that, we are present in Florida, America and the Asian continent. »
He said Nigerians have a huge appetite to participate in the financial market: “Nigeria ranks among the countries that participate in e-commerce. He further explained that the company teaches people how and when to buy and sell.
Also, we have a lot of brokers in Nigeria and to be honest, we felt there was a gap. People need to understand how to trade profitably.
“People need to understand that this trading can be a skill and you can learn it and do it yourself. We have training in the office every day online and offline and it’s free. It’s open to all from the age of 18. We need the private sector to come up with a lot of programs to help people and financial empowerment is the best approach.
“We want to change the narrative because the government cannot do everything for us. It’s the truth. If you look at it technically it might be true, you might feel offended. But let’s be honest, it’s the truth. The inflation rate is rising and the economy is not doing very well.
“With Equiti, you can trade Euros for US Dollars, Turkish Liras, and Pounds. When we talk about forex, it’s about buying and selling currencies in a globally decentralized market.
“Apart from currency trading, you can trade precious metals like gold and silver, gold, agricultural commodities like grain, cotton, rice, coffee and cocoa and many more on market.You can also trade crude oil.
“Right now everyone knows that the price of oil is increasing due to the crisis between Russia and Ukraine. You can take advantage of it and make a profit. Until last week, oil prices increased and people bought in the markets making huge profits.
“It will interest you to know that you can also trade stocks. Many of us chat on Facebook not knowing that you can trade Facebook shares, I know that for example Tesla goes up, Zoom goes up Alibaba or Amazon goes up. You can trade these stocks on the platform and earn profits. These are all different assets that can be traded on the platform we have provided.
“If you are a beginner, you can schedule whether you want the training online or offline. It takes place every day. If you are in Abuja and you have the option to come to the office for training from 2pm to 4pm.
“On our platform, you can start trading with $5. It’s like N2 500 but I will advise you to start bigger, like with $100. If you are a beginner, you want to learn how to trade. If you fund this 100 $, I will not advise you to start trading because you don’t know what to trade, you just need to fund to secure the 30% bonus we offer.
“If you need to open a real account, we usually ask for a valid government-issued ID for verification purposes only. And once the account is approved, you will be assigned to an account support manager. account support should help you get active.”
Okwara said the company’s integrity and the global licenses it had acquired were enough to allay any apprehensions about the safety of people’s money: “We don’t trade for people. We provide you with a platform to trade and we teach you what to do. The money is in your trading account and we don’t have access to your account because the password and login details are sent to you, not to us.
“We need more help from the government to have this partnership to reach more Nigerians. We also need the media. Instead of lots of negative stories, why not also report something positive that will benefit people.
“Aren’t you tired of giving someone your money and the person runs away? But here you have control and access to your money. We have affiliations with Nigerian banks that you don’t give us money for. You only fund this account. We need this message out to let more Nigerians know that Forex is not a scam.
“The government should regulate forex trading in Nigeria. There are a lot of bucket shops out there that take people’s money and disappear. If this trade is regulated, it will curb all this “madness” in Nigeria.
“Imagine that Kenya and East African countries have regulatory bodies that regulate the business. If Kenya can do that, Nigeria can do the same. Regulation should sift the chaff from the grain.
“Another piece of advice if the government cannot provide jobs, it should look for sectors or organizations that have the capacity to help. Simply work with them to grow and increase employment or reduce unemployment.
“We are not telling you to give us money, but to support us by spreading the news and letting people come and train. Government-owned televisions should also help us subsidize rates so we can come to stations and talk about e-commerce. »