NGX Extends Financial Literacy to Military Officers as Some Won Shares in Listed Companies

The Nigerian Exchange Limited (NGX), in collaboration with Zenith Bank and supported by Africa Prudential, extended its financial literacy initiative, X-lit, to the Army Barracks, in line with its commitment to creating deep knowledge on financial literacy and boosting the participation of retail investors in the capital market.

The X-lit session is themed “Soldering Wealth: X-Lit’s Exclusive Insights for the Nigerian Military,” The event happened on Thursday, December 7, at the Nigeria Armed Forces Resettlement Centre. In the event, soldiers were educated on how to access and invest in the market with technology, including the launch of the NGX USSD Code.

Addressing the importance of the event, Irene Robinson-Ayanwale, Divisional Head, Business Support Services and General Counsel, NGX, noted that NGX launched the X-Lit initiative to push the market closer to retail investors, of which many retiring military officers are part.

She said,

• That is why we themed this campaign ‘Closer to You’ further to deepen our market's retail investors pool. We will roll this out across the country and reach out to more demographics, including youths, market women, and others.

Bukola James-Cole, Head of Capital Markets Business, Africa Prudential Plc, addressed the media during the event, saying that the company, in recognition of the importance of democratizing investing and enhancing financial literacy, partnered with NGX on the initiative.

Chinonso Umeh, Retail Banking at Zenith Bank Plc, expressed enthusiasm about collaborating with NGX. He appreciated the NGX's achievements and talked about Zenith Bank's commitment to working together to promote financial literacy among retail investors.

Soldiers who participated also thanked NGX, Africa Prudential, and Zenith Bank for organizing the X-Lit session, stating that it was perfect as they were nearing retirement. Some soldiers won gifts in the form of shares in listed companies as a prize for answering questions thrown at the participants after the presentations.