The Regional Manager of Vantage Markets Africa, Ted Odigie, has called on Nigerians, particularly entrepreneurs and small businesses, to invest in proper financial education before venturing into electronic trading. He issued the advice during the “Trade Smarter” summit held in Ibadan, where business owners and young professionals gathered to explore new opportunities in the financial markets.
Odigie warned that the absence of adequate knowledge continues to expose many Nigerians to heavy financial losses and fraudulent schemes disguised as online investment platforms. He stressed that education is the most reliable safeguard against Ponzi schemes, which have taken advantage of people’s desperation to earn quick profits.
According to him, successful participation in global financial markets requires both fundamental and technical knowledge. On one hand, traders must understand how news, government policies, and global economic data shape market trends. On the other, they must acquire technical skills such as chart reading, price action analysis, and risk management. Without this dual approach, many investors risk losing money to mistakes and manipulation.
He also urged Nigerians to verify the licensing and regulatory status of any online trading platform before committing funds. In his words, legitimacy and compliance with financial regulators should be the first filter for anyone seeking to trade responsibly.
Odigie further called on government to integrate financial literacy into national development strategies. He noted that many workers and business owners lack the tools to plan for long-term financial stability, leaving them vulnerable to unstable markets and predatory schemes. Embedding financial education in policies, he argued, would prepare more citizens to build wealth sustainably and contribute to economic growth.
For small and medium-sized enterprises, Odigie highlighted the potential benefits of genuine e-trading platforms. By accessing global financial markets responsibly, SMEs could diversify income streams, reduce risks tied to traditional markets, and improve their ability to weather economic shocks. This, he said, could strengthen business sustainability while also fostering innovation and competitiveness in Nigeria’s growing digital economy.
He concluded by urging entrepreneurs not to view trading as a gamble, but as a disciplined skill set requiring patience, knowledge, and strategy. With the right training, Nigerians can unlock opportunities in global markets without falling victim to fraud.
