Olusoga: Positive Market Reaction Attributed to Tinubu’s Pro-business Ideology

In this interview, the Chief Operation Officer, i-invest, Tobi Olusoga spoke on trends that have impacted the financial markets positively, the investment landscape in Nigeria, and other pertinent issues. Nume Ekeghe presents excepts

Tell us about yourself, your firm and the services you provide?

I am Tobi Olusoga, the Chief Operating Officer at i-invest, a product developed by the Parthian group in collaboration with Sterling Bank. I am passionate about driving technological advancements to facilitate financial accessibility for all Nigerians.

i-invest is a leading financial services marketplace that grants users access to a diverse array of competitive investment opportunities, including fixed-income securities, equities, and high-interest-yielding savings. The app ensures a secure and reliable experience, empowering users to effectively manage and monitor their investment portfolios, ultimately paving the way for effortless financial freedom.

At i-invest, we are dedicated to the continual expansion of our financial marketplace, with the sole objective of providing our esteemed customers with access to a diverse array of permissible financial services in full compliance with Nigerian legislation. We strive to empower individuals to make informed financial decisions and take control of their financial well-being.

By offering a comprehensive range of financial solutions, we aim to cater to the diverse needs of our customers, enabling them to achieve their financial aspirations and secure a more prosperous future. Our commitment remains steadfast in fostering financial inclusion and empowerment for all.

The equities market react positively to the new administration, can you give us an insight into what happened?

I believe the positive market reaction can be attributed to the signals indicating that our new President is strongly supportive of business and genuinely committed to realising the aspirations we have for Nigeria. The alignment between the President’s speech and actions, particularly in the context of removing fuel subsidies, has instilled confidence in the markets. This demonstrated consistency has reinforced the belief that the President is resolute in implementing decisions that align with his pro-business ideology.

Such alignment between rhetoric and action fosters a conducive environment for businesses to thrive and investors to confidently participate in the market. It sends a message that the government is focused on creating an enabling environment that encourages economic growth and development. This positive market sentiment reflects the optimism and belief that the President’s decisions will ultimately contribute to the realisation of our collective dreams for a prosperous Nigeria.

As we move forward, it is crucial to monitor the government’s commitment to implementing pro-business policies and ensuring their effectiveness. By sustaining this alignment between words and actions, we can nurture a business-friendly environment that attracts investments, stimulates economic growth, and paves the way for Nigeria we aspire to build.

How would you assess the new government’s economic policy directions?

It’s early days, the proof is in the execution. As we navigate these initial stages, the true measure of success lies in effective execution. While the initial direction appears promising, it is important for all stakeholders, including the government and every Nigerian citizen, to actively contribute towards achieving our shared goals. By collectively embracing our responsibilities and actively participating in the development of our nation, we can ensure that the positive trajectory continues and translates into tangible progress. It is through our collective efforts and commitment that we can bring about the desired transformation and create a better future for Nigeria.

How would the suspension of CBN Governor affect the market and FDI confidence?

To be honest, without having a crystal ball it’s difficult to say. So far, we have seen the market react positively to the new administration and the decisions taken so far. I think there are a lot of factors that will come into play when it comes to the effect of this development on the market, but time will tell.

Your firm recently revealed it had processed over $100 million transactions in five years, what would be the target for the next five years?

Interesting question. Our target is not limited by a specific number of transactions. Our foremost goal is to promote widespread financial inclusivity by expanding the accessibility of financial products to a larger segment of the Nigerian population. We are dedicated to empowering individuals with the tools and opportunities to achieve sustainable financial growth, which directly translates to an elevated standard of living. This overarching mission serves as the driving force behind all our initiatives.

With an unwavering commitment to our purpose, we aim to effect positive change in the lives of our valued customers. By removing financial barriers and providing them with the necessary resources, we enable individuals to overcome obstacles and unlock their full potential for a brighter future. Our efforts in fostering financial well-being not only benefit individuals on a personal level but also contribute to the overall prosperity and development of both individuals and the nation as a whole.

Through our comprehensive range of financial services and solutions, we strive to address the diverse needs of our customers. By offering accessible and user-friendly platforms, we ensure that individuals from all walks of life can engage with financial products and services with ease. We are dedicated to providing guidance, support, and education to empower our customers in making informed financial decisions.

Moreover, we place a strong emphasis on maintaining the highest standards of security and privacy. We understand the importance of trust and confidentiality when it comes to financial matters. Therefore, we employ robust security measures to safeguard our customers’ information and transactions, ensuring a safe and secure environment for their financial activities.

i-invest holds the prestigious ISO 27001 certification, which signifies our adherence to globally recognised standards for information security management systems. Additionally, we are fully PCI DSS compliant, following a set of rigorous security standards to maintain a secure environment for handling credit card information. These certifications are vital in our commitment to providing secure and reliable financial services amidst the growing risk of cyber-attacks and data breaches. We prioritise continuous monitoring, improvement, and investment in infrastructure, tools, and training to ensure the highest level of security. With i-invest, our customers can trust that their data is protected, offering them peace of mind.

In conclusion, our overarching mission is to enhance financial inclusion and improve the lives of our customers. We remain committed to breaking down barriers, fostering financial growth, and contributing to the prosperity of individuals and the nation as a whole. By offering accessible and secure financial solutions, we strive to empower individuals to shape their financial futures and achieve their goals. Together, we can create a society where financial well-being is attainable for all.

Over the years, the trend of trading equities has been to a certain age demographic, what can be done to entice the younger generation to invest in equities?

Today, the younger generation are a lot more active in the equities market than ever before, and i-invest is at the forefront of enabling trading opportunities for individuals above the age of 18. Our focus extends beyond mere access to the market; we are committed to empowering young investors through financial education and gamification. By equipping them with knowledge and creating an enjoyable experience, we strive to make investing more accessible and engaging for this demographic.

Through our user-friendly app, we have streamlined the onboarding process and significantly reduced processing times. Nevertheless, there is still ample room for the capital market to embrace technology further, to ensure a more seamless and inclusive investment experience for all young people.

Additionally, we recognise the need for improvements in the entire process of dividend payments and the allocation of corporate actions. Currently, there is friction surrounding dividend receipt, which calls for collaborative efforts with fintech firms like ours to develop solutions that eliminate these obstacles. By addressing these challenges, we can enhance investor confidence and attract a new wave of enthusiastic participants to the market.

We believe that by fostering collaboration and innovation, we can create a future where investing is accessible, engaging, and rewarding for the younger generation and beyond. So, i-invest remains committed to providing young investors with the tools, knowledge, and seamless experiences they need to thrive in the equities market. As technology continues to shape the financial landscape, we are dedicated to driving advancements that will empower all individuals to embark on their investment journey with confidence and convenience.

Asides from equities, can you speak on the fixed income products your firm provides?

i-invest provides a wide range of fixed income products to cater to diverse investment needs. Our platform offers investment opportunities in Treasury Bills, Fixed Deposits, Commercial Papers, and Eurobonds. These products are carefully selected in line with extant market dynamics and are comparable to a financial “supermarket,” where users can easily access competitive rates from different reputable and regulated institutions.

Whether you are seeking short-term or long-term investment options, i-invest serves as a convenient and reliable platform to explore various fixed income opportunities. We prioritise transparency and aim to empower our users with the tools and information needed to make informed investment decisions.

Are there other incentives or investment opportunities your firm offers?

One of the most compelling reasons to choose i-invest is our commitment to maximising the potential of your money, ultimately leading to effortless financial freedom. With our focus on optimising your investments, we aim to provide a seamless and rewarding experience that empowers you to achieve your financial goals with ease.

We have been doing this for over 5 years and we continue to deliver to our customers as promised. We offer the most competitive rates and there are no hidden costs attached to your investment unlike other platforms.

In addition to equities and a variety of fixed income products, we are also planning to introduce ethical products and collective investment schemes, allowing customers to further diversify their portfolios.

What would be the advice you would give a beginner to investing?

If you haven’t started investing the best time to start is today! The key things to start with are: Educate yourself – there is a lot of information out there, for example i-invest has a telegram community where finance information is regularly shared.

Start simple that is a savings plan, don’t put money into something you don’t understand. Be consistent – it is important to develop a habit even if it’s a small amount initially. Over time, it can help accumulate wealth through the power of compounding. Diversify your portfolio – don’t put all your money in one type of investment, try to spread your risk. Also, download the i-invest App! We can help you with all of the above and a lot more.

Going forward what can your customers and intending customers expect from your firm?

Better service and more products.