The Chief Executive Officer of Sterling Bank, Abubakar Suleiman has stated that the reason people get into trouble when it comes to investment is that they don’t have access to information or a good financial advisers.
Abubakar said this during a media parley introducing AltInvest, an investment app by Sterling Bank to finance economic activities geared towards inclusion, growth and development.
According to him, risk management is all about having access to information as well as investing in real asset which is the basis of what the platform is offering.
Suleiman said the new development is part of the bank’s way of delivering investment opportunities void of high risk to the public as the bank plays the role of adviser, helping to authenticate and verify investment viability.
Lack Of Access To Information Is The Reason People Fail In Investment – Abubakar Suleiman, Sterling Bank CEO
He said, “The reason people get into trouble when it comes to investment is that they don’t have access to information and they don’t have financial advisers. We are in the market, we know all that is going on and we know where all the good news are.
We are taking all the information and we are converting it into investment opportunities. So it’s almost like you have all of these advisers working for you once you decide to be with the platform.
“The first thing we offer is that we become your representative at the table where you can’t be, and the second thing is that we show people where they can best invest. We are significantly reducing the entry barrier for everyone. We are taking to do the authentication and verification of all investments and most importantly, we are administering it and this means that you have someone you can trust doing all the work.
Speaking on risk management and the importance of accessibility to information in investment, he pointed out that investment on the platform is tied to a real asset, and that to the bank is the most important risk management.
“Because of access to information, a retail investor does not have access to the right kind of asset but we have identified the risk and proffered solutions to those risks before we even made them available to you.
What this platform is offering is an opportunity to hedge against those risks by providing knowledge, information, and most importantly, avoiding the things that are fundamentally risky because a retail investor does not have access to some of these information,” Suleiman said.
Muhammed Yunusa, the head, NIB Digital Business said the bank is offering the general public an opportunity to invest in the growth sector as AltInvest is designed around personal wealth growth, infrastructural development, and diversification of investment portfolio.
He said, “All of these can be seen as an investment vehicle to raise funds to be deployed into different projects. We get paid by rental income projects from different investments and from that funding, we build this projects and we all collectively pull the funds, we share and we invest.
In a regular investment platform, what you would see is putting in the money and getting paid after a period of time with accrued interest. For us, it is different, we sell you the vision/story of what you are investing in and we can actually see this investment. We also list the product where you can actually list or visit for yourself and you get a certificate for that investment.