By Lazarus IBEABUCHI
ABUJA: Access to timely and accurate information is critical to attracting investors to the Nigerian stock market, a financial analyst, Mr. Arjun Markanda, said.
Mr. Markanda, CEO of Easykobo.com, a finance website aimed at educating Nigerian investors to leverage on the rebounding stock market, said “the retail investors are the most important asset to a nation’s stock market. Nigerians are not getting the benefit of the boom in the stock market today due to lack of adequate information.”
“So, if Nigerian investors do not have adequate information, it is not going to help the market. For this purpose, Nigerian investors need a proper information source and that is what the site is trying to do.
“One can use easykobo.com to get all the information on listed companies and then buy shares of those companies and try out various strategies. Once a person is confident and wants to go ahead and invest with real money, the person can then contact his stockbrokers or a financial advisor to do the deal. In this way Easykobo.com is bringing people back into investing in Nigeria capital market. Easykobo.com is leading people to discuss the stock market with their friends over gatherings, in offices and in homes.
Users can also set up a portfolio which can be used to track real investments. All one has to do is to enter the information on what shares a person owns, date of purchase, and the system will work our progress on a daily basis totally free of cost. This is meant for those people who only want to track their investments and do not wish to participate in Stock Trials. At the same time people can also make portfolios and participate in the stock trials, he said.
On restoring retail investors’ confidence, Mr. Arjun Markanda, said that the market regulators should ensure that companies pay good dividend.
“A lot of people lost money during the financial crisis in the market including myself. People actually invested in some companies with the hope that they will have good returns on their investment. But unfortunately, they got their fingers burnt.
“However, the regulatory authorities have put things in place to revive the market. I urge the relevant regulatory agencies to make sure these companies pay good dividend. That is the surest way that retail investors can be attracted back to the market because all over the world, people invest to get profit,” he said.