United Bank for Africa (UBA) Capital, the investment banking and asset management division of UBA Plc, has launched an online trading platform that allow investors to directly fund their investment account without the help of a client-company funds lodgment.
The trading platform, www.investnow.ng which is the first of its kind in Nigeria will allow users to manage their portfolios online via mobile devices.
This will provide them a live price feed for listed stocks which will enable investors to make informed decisions based on the latest data as well as facilitate real time investment account funding functionality.
CEO of UBA Capital Group, Oluwatoyin Sanni, says the online platform was created to boost domestic participation on the Nigerian Stock Exchange (NSE) and guard against foreign investors pulling fund during crises situation.
Nigeria’s stock market remains dominated by foreign investment with foreigners holding 53 percent participation while locals accounts for 47 percent.
“Nigeria has the lowest in terms of domestic participation and we are still far less than Zimbabwe, Kenya, Ghana among others,” she explained.
“By making investing in Nigeria quicker and simpler, and providing real-time data in order to inform investment choices, the Investnow.ng platform brings us closer to our customers and we anticipate the transaction volumes rising over the coming weeks and months as our customers enjoy the flexibility and ease of building the Nigerian economy with UBA Capital,” the CEO concluded at the close of the bourse on Tuesday.