If that happens today…
Do you know what to do?
Or…
Will you simply come to Facebook and write,
“The Nigerian stock market is a scam!”
Oya..Relax.
Let me open your eyes today.
This is one of the biggest financial literacy lessons I have ever shared.
And if you are investing in the Nigerian capital market…
Please read this to the end.
Because…
It may save your investment one day.
One thing many people don’t know is that…
The Nigerian capital market is one of the most regulated financial sectors in Nigeria.
Yes.
You heard me correctly.
Whenever I tell people to invest…
I’m not asking them to close their eyes and hope for the best.
I’m asking them to understand how the system works.
Because once you understand the system…
Fear disappears.
Knowledge replaces panic.
Let me shock you.
A few months ago…
A lady contacted me.
She had a serious issue with her stockbroker.
She was frustrated.
She thought all hope was lost.
Instead of telling her,
“Leave everything for God.”
I did something different.
I contacted the stockbroker directly.
Copied her into the email.
The issue was resolved.
Not because I know anybody.
Not because I have special powers.
But because I understand the system.
That is exactly why I founded Fokona
To help ordinary Nigerians understand how money and investing actually work.
Now…
Let me tell you something many investors don’t know.
If you have a problem with your stockbroker… don’t panic.
And please…
Don’t jump straight to social media.
There is a proper process.
Just like you don’t take every court case straight to the Supreme Court…
Investment complaints also follow a process.
As your Financial Literacy Advocate, let me send you a guide to follow.
And Here is how it works.
Step 1: Contact your Stockbroker (Dealing Member Firm).
This is always your first point of contact.
Give them the opportunity to investigate and resolve your complaint.
Many issues end here.
Step 2: If the issue is not resolved by your stock brokers… report it to NGX.
If you are not satisfied with the response…
Or the stockbroker fails to resolve the matter…
You can escalate your complaint to the Nigerian Exchange (NGX).
NGX will contact both you and the stockbroker.
Their goal is to resolve the issue through mediation.
Step 3:
If mediation fails…
The matter can be referred to an independent Investigation Panel for further review.
Step 4:
If necessary…
The complaint can move through the Exchange’s disciplinary and appeal process called “Disciplinary Committee / National Council”
Step 5:
If the matter still requires regulatory intervention…
It can be escalated to the Securities and Exchange Commission (SEC), the apex regulator of Nigeria’s capital market.
SEC has the authority to investigate, make regulatory findings, and issue appropriate directives in accordance with applicable rules.
Now let me tell you a secret.
Many Nigerians lose money…
Not because the system failed.
But because they don’t know the system exists.
Some people simply say,
“I leave everything for God.”
No.
God also gave you knowledge.
God gave you regulators.
God gave you procedures.
God gave you rights as an investor.
Use them.
This is one of the biggest reasons I keep talking about financial literacy.
Financial literacy is not just about buying shares.
It is also about understanding your rights.
Understanding where to go.
Understanding how to seek redress.
Understanding that investing is governed by rules, not by luck.
That is why I always say…
When I tell you I am on a mission to build 10 million financially free Nigerians and Africans through Fokona…
I’m not just talking about teaching people where to invest.
I’m teaching people how the entire financial system works.
Because an informed investor is a protected investor.
So before you conclude that,
“The stock market is a scam…”
Ask yourself this question first:
Have I followed the proper complaint process?
You may discover that the problem isn’t the market…
The problem is simply that you didn’t know your rights.
Knowledge protects your money long before profit grows it.
That is why financial literacy is not optional.
It is one of the best investments you can ever make.
I am Iking Ferry,
A Financial Literacy Advocate and Investment Strategist on a Mission to Build 10 million Financially Free Nigerians via Fokona with the right Knowledge.