2022 Investor Week: LCFE highlights investment opportunities in gold commodities for students
As part of activities to commemorate the 2022 World Investor Week, the Lagos Commodities and Futures Exchange organised a financial literacy seminar for students from Universities and Secondary schools.
It focused on the theme “Not too young to invest: Gold for Youths” and was hosted in its exchange house, Marina, Lagos. In his opening remarks, the MD/CEO of the LCFE, Mr. Akin Akeredolu-Ale said the seminar was designed to enlighten the next generation on investment opportunities in the commodities market.
According to him ‘gold’ is a valuable commodity for investments because it possesses the following qualities:gold is money, gold is tangible, gold is highly liquid, gold is an excellent hedge against inflation.
He charged the students and youth to adopt a saving habit, enabling the mobilization of funds for investments. The capital market leader also urged them to avoid Ponzi schemes.
Mr. Akeem Oyewale, a member of the Securities and Exchange Commission Financial Literacy Technical Committee representing the Chairman, tasked the students with the need to engage only licensed securities market dealers for their investments. He also advised them to imbibe the culture of savings and learn to invest their funds wisely.
Giving the goodwill message at the event, Mrs. Olubukola Rufai, the Director of Lagos Zonal Office, Securities and Exchange Commission, who represented the Director General, commended the LCFE for making the youth a top priority in its investor education programme.
According to her, since the 2008 global financial crisis, there has been investor apathy in the Nigerian capital market. This has reinforced the mandate of the SEC to drive investor education and guarantee investor protection.
In her presentation, the MD/CEO of MoneyWise Investment Limited, Mrs. Toyin Alasi, informed the students that investing is a journey and the destination is financial freedom and wealth creation.
She added that investing money early allows for taking risks, citing Warren Buffet, Bill Gates, Elon Musk and Aliko Dangote, billionaires who started investing as teenagers and young people.
In his presentation, the Chief Operating Officer of GTI Capital, Mr. Kehinde Hassan, described ‘Gold’ as the world’s most precious metal and mineral. He described it as lucrative and very valuable for investments. Highlights of the event were the formal closing gong ceremony to wrap up trading at the exchange, with selected students witnessing the activity.
According to the LCFE 1gram of Gold for investing as at close of trading Thursday, October 6th, 2022, was N45,200.
