A protection scheme for small investors could be set up in Nigeria

Apr 19, 2013

The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to establish an explicit investor protection scheme to look after the interests of small investors in the capital market.

The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to establish an explicit investor protection scheme to look after the interests of small investors in the capital market.

According to the Managing Director of NDIC Alhaji Umaru Ibrahim, such a scheme is important to the development of a stable capital market, the Daily Trust reports.

This insurance scheme could boost investors' confidence in the Nigerian market and strengthen the country's financial system, thus contributing to economic growth.

Mr Ibrahim also expressed worry over the concentration of stock-broking firms in certain parts of the country - which he said did not augur well for financial inclusion - and urged the Chartered Institute of Stockbrokers to mobilise resources for securing licences to spread opportunities to every parts of the country and reach out to small investors.ADNFCR-2976-ID-801573423-ADNFCR