Rebecca Ejifoma
Determined to bridge the knowledge gap in the financial market, a brokerage firm that offers Forex, TigerWit Africa, successfully trained more than 840 Nigerians during a two-week workshop in Port Harcourt, the capital of the Rivers State.
The two-week training, facilitated by TigerWit Africa Education Officer Mr. Davies Babalola and his team through TigerWit Academy, aimed to prevent Nigerians from losing income in this time of bleeding economy and global pandemic.
In an interview with THISDAY, Babalola said that TigerWit Academy is passionate about helping people after noticing a lack of knowledge in the industry.
“A lot of people are losing money blindly, which is pointless. If we can help them negotiate longer, we can be assured of a sustained long-term customer base, a win-win situation, ”he added.
According to the education official, a good thing is that at times like this, COVID-19 has taught us “that you can’t depend on just one source of income; you need a source of income that is not dependent on your nation’s economy ”.
The forex expert also lamented the deterioration of the naira while conceding that “we are in a very difficult situation. Just because the naira is going bad doesn’t mean the whole world is too.
“So can we take advantage of technology? COVID-19 has taught us that if the whole world is on lockdown not everyone can get out, how do we make money and feed ourselves? “
During the heat of the chaotic foreclosure, Babalola confirmed that Forex trading has the biggest Google search keywords. “Look for like online Forex trading, home trading, digital marketing. It was what everyone did.
He did, however, list some advantages of forex trading. “You don’t have overhead. All you need is to create an account with your broker and then put in $ 100 or $ 200.
To start the business, the expert said you need a laptop, a mobile phone that you use for WhatsApp and be over 18. unnecessary overheads, no staff payments, ”suggesting that some of them are even doing much better than the banks can give them in a year.
According to him, we know that the interest rates on bank term deposits are not attractive enough. “This is not the case in Forex; you become profitable from the start.
“However, we have dissuaded newbies from making big profits. Two, three, or five percent on a monthly basis is fine for you, not 20 or 30 percent. Let it compose for six months or a year, you will see quite a game change. “
With half of the total participants as women, the education officer described women as very enterprising. Others included retirees, retirees and students.
TigerWit Academy not only equipped beneficiaries and packed their bags, it also created a social media account as a tracking mechanism.
In his words: “We have organized webinars for them; we have a fully configured online academy, so we give them login access that they can log into and continue studying at their convenience.
Babalola, however, has given newbies the confidence that when they try it for themselves, they can grow taller. “You will fall and get up again, but with the knowledge you have gained. “
The company also awarded $ 1,750 to three participants to encourage them to get into trading. While the first finalist received $ 1,000, the second and third received $ 500 and $ 250 respectively.
“They won a draw. This is a clear indication that tigerwit is intentionally determined to see Nigerians succeed, ”he said.
According to Babalola, TigerWit Academy had its eyes on Port Harcourt following the recent fallout from a Ponzi scheme. “A lot of people have lost tons of money, people are suffering and yet they believe they can still do this job.”
The academy therefore enabled participants to learn about trading on their own rather than handing over their money to people who defrauded them. “This is the paradigm shift we gave them.”
After two weeks of knowledge sharing, Babalola claimed they had stayed behind. “We continued to train people morning and evening, having two sessions per day; morning for the non-working class, evening was for those who worked.
While acknowledging that the program has had an impact, Babalola is excited to spread it across the country. “We have a system in place that will sort of make it work automatically. That’s why we set up the online academy, which we rely on to tour. “
After empowering the residents of Port-Harcourt, TigerWit Academy replicates the same thing in Abuja, then in Uyo, the capital of Akwa-Ibom state.
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As of April 2020, the New York Stock Exchange and NASDAQ accounted for 45% of global stock markets.
