Nigerian Exchange (NGX) Limited has urged investors to leverage on its new USSD platform for enhanced capital market access.
NGX stated this at its Investor Education Series, partnered with Meristem via a Zoom meeting held on Thursday, June 6, 2024, with the theme, ‘Unlocking Potential: Leveraging USSD For Enhanced Capital Market Access’.
Speaking at the event, Head, Trading & Products of NGX, Abimbola Babalola stated that the NGX USSD (Unstructured Supplementary Service Data) platform is a technology that allows mobile phone users to access a variety of services by dialing a short code (*5474#) on their phone keypad, saying that the NGX USSD platform is a new and innovative way for investors to access real-time stock market information and connect with a stockbroker.
According to him, the product is designed to boost financial inclusion and market participation in Nigeria by providing investors easy access to price information of listed companies and connecting them with Trading License Holders.
He further said that “What we are doing at the exchange is to put investors at the driver’s seat of their investment. Gone are those days when you buy securities and you go to sleep, or you have to start reading newspaper or wait for news to know what is happening to the stocks. So, this time around, you have a device that you can use to monitor your stock at any time.”
