Coinage Fund Management Ltd has received approval from the Securities and Exchange Commission (SEC) Nigeria to operate as a Fund/Portfolio Manager. The firm, focused on African markets, is now authorised to provide investment and portfolio management services to high-net-worth individuals, mass affluent investors, emerging investors, institutions and corporate organisations. Its approach combines disciplined asset management with technology-driven insights, aiming to improve access to professional wealth management across Nigeria.
The firm's entry comes amid widespread underutilisation of individual and institutional capital in the country, often attributed to limited access to credible investment advisory platforms. Dr. Victor Gbenga Afolabi, Board Chairman of Coinage Fund, stated, "Too many individuals and businesses leave capital idle or poorly managed due to limited access to the right expertise. We are here to change that." Chief Executive Officer Biodun Oke described the regulatory approval as validation of the firm's strategy and a foundation for future growth.
Dr. Victor Gbenga Afolabi points to idle capital due to lack of access to expertise, yet the same investors may remain wary of new firms without proven track records. Coinage Fund's entry does not guarantee trust or immediate adoption by hesitant investors. Its success hinges on demonstrating consistent returns in a market sceptical of financial promises. No regulatory approval alone changes the calculus for Nigerians who have lost money before.
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