NGX Launches USSD Platform to Boost Capital Market Access

Kayode Tokede

Nigerian Exchange (NGX) Limited has urged investors to leverage on its new Unstructured Supplementary Service Data (USSD) platform, for enhanced capital market access.

NGX stated this during an Investor Education Series, in partnership with Meristem Securities Limited via a zoom with the theme, “Unlocking Potential: Leveraging USSD For Enhanced Capital Market Access.”

Speaking at the event, Head, Trading & Products at NGX, Abimbola Babalola stated that the NGX USSD  platform is a technology that allows mobile phone users to access a variety of services by dialing a short code (*5474#) on their phone keypad, saying that the NGX USSD platform is a new and innovative way for investors to access real-time stock market information and connect with a stockbroker.

Speaking, Head, Investment Advisory at Meristem Stockbrokers Limited, Temitope Oludimu said that Meristem Securities has been in the industry for over two decades, growing her clients’ wealth and enhancing their financial wellbeing.

She noted that the Stockbrokers subsidiary of the Group provides easy access to online brokerage accounts allowing clients to monitor trades in real-time via MeriTrade and the first online stock trading platform in Nigeria commenced in 2014.

Oludimu added that “MeriTrade allows users to buy and sell stocks online through the Nigerian Stock Exchange from the comfort of their home, office, car and even on the go.”

On his part, Head, Data and Digital Innovation, NGX, Afeez Ramoni,  stated that the public can now conveniently receive market information and commence account opening process through their mobile phones by dialing *5474#.