United Capital Asset Management
Ltd, a subsidiary of leading Pan-African financial services group, United Capital Plc, recently held its inaugural investment forum at the prestigious Eko Hotel and Suites, Victoria Island, Lagos. The event served as a crucial platform for industry stakeholders to engage in a much-needed discourse on advancing financial inclusion.
Themed “Deepening Financial Inclusion through Participation in Collective Investment Schemes: A Collaborative Approach,” the forum addressed emerging trends, challenges, and opportunities in the financial landscape with a focus on driving greater retail participation in Collective Investment Schemes (CIS), specifically mutual funds, to enhance financial access for all.
Delivering the keynote speech at the forum, Lamido Yuguda, the Director-General of the Securities and Exchange Commission, represented by Dayo Obisan, Executive Commissioner (Operations) at the Securities and Exchange Commission (SEC), emphasized the critical need for increased retail participation in the capital markets, citing that despite the progress made so far in advancing financial inclusion across Nigeria, less than five percent of Nigerian adults currently invest in the capital market, underscoring the urgency for collaborative efforts in this endeavor.
Odiri Oginni, MD/CEO of United Capital Asset Management Ltd, echoed similar sentiments during her comprehensive presentation at the event. She highlighted the immense growth potential in Nigeria’s Collective Investment Schemes (CIS) industry but expressed concern about the low penetration rate compared to other countries. She emphasized that “Collaboration among stakeholders is essential to scale up the industry and reach underserved populations. By integrating CIS into their product offerings and distribution channels, financial institutions can expand their reach and attract new investors.”
Contributing to the conversation was a panel of thought leaders and subject matter experts who participated in an interactive discourse exploring actionable steps that stakeholders, including government agencies, financial institutions, and technology providers, can implement to increase the adoption of collective investment schemes and advance financial inclusion in Nigeria. The panelists included Michael Oyebola, Founder, Money Counsellors; Titilola Shogaolu, CEO, Interswitch Financial Inclusion Limited; Tobe Nnadozie, Divisional head, Business Technology and Digital Innovations, CSCS Plc; and Uche Uzoebo, Chief Distribution and stakeholder engagement officer, SANEF.
In his remarks on the inspiration behind the forum, Peter Ashade, Group CEO, United Capital Plc, highlighted the timeliness of the dialogue in light of the current economic landscape. He stated, “The timing of this conversation is particularly opportune given the prevailing economic landscape. At United Capital, we are steadfast in our commitment to advancing financial inclusion, which is our reason for putting this together. Our hope is that this forum serves as a catalyst for collaboration within the financial services sector, ultimately contributing to the establishment of a more inclusive financial ecosystem and fostering sustainable wealth creation for all.”
The investment forum garnered positive feedback from attendees, who represented a diverse spectrum of industry leaders and regulators. Of note, Jude Chiemeka, the acting CEO of the Nigerian Exchange Limited (NGX), delivered a commendatory goodwill message, praising United Capital for the thoughtfulness in organizing the event and lauding its brilliant execution.
The United Capital Asset Management Investment Forum sets a precedent for continued collaboration as opposed to competition within the financial services sector, driving towards a more inclusive financial landscape in Nigeria.
