Stakeholders urge northern youths to embrace digital literacy

The need for Northern youths and the Almajiri system to embrace the potentials of financial education and digital entrepreneurship to expand their economic opportunities has come to the fore.

Notable forex trader and entrepreneur with deep roots and robust market share in parts of the North, Damilare Ogundare, made the call, while urging young Nigerians, particularly those in Northern Nigeria to leverage the vast forex economy in the North.

According to him, the broader question is how financial and digital literacy can help individuals take greater responsibility for their economic decisions. Properly designed programmes could introduce young people to budgeting, saving, entrepreneurship, online work and the risks associated with speculative financial products.

Such efforts, he noted, could also complement initiatives aimed at improving school participation and creating alternatives for vulnerable children, including those affected by the Almajiri system.

However, he cautioned that, “Trading should not be presented as a substitute for basic education or as a guaranteed escape from poverty.”

Ogundare, who is popularly known as Habby Forex or HabbyFX also clarified that the region’s participation in the digital economy will depend not only on access to financial markets but also on the quality of education, reliable digital infrastructure, consumer protection and opportunities to develop productive skills.

While highlighting the potentials of financial education and digital entrepreneurship to expand economic opportunities for young Nigerians, particularly in Northern Nigeria, Ogundare, who spoke in an interview with Arewa PUNCH on Friday, said his experience in the foreign exchange market had shaped his interest in trading education and entrepreneurship through his HabbyForex Trading Academy.

The forex market expert further disclosed to our correspondent that he began trading as a teenager, adding that he recorded his first million-naira milestone at the age of 18.

He narrated, “My journey into forex trading has taught me the importance of discipline, patience and continuous learning.

“The market requires a proper understanding of risk, and anyone who wants to succeed must be willing to learn from both opportunities and setbacks,” Ogundare said.

He noted that his experience comes amid wider discussions about how young Nigerians can acquire digital and financial skills to participate in emerging economic opportunities rather than depend solely on traditional employment.

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For Northern Nigeria, where concerns about out-of-school children, unemployment and limited access to quality education remain important development issues, financial literacy, he maintained that a deliberate embrace of the market could form part of a broader strategy to improve economic participation.

However, he advised that experts and policymakers would need to combine such initiatives with foundational education, vocational training, access to technology and employment opportunities to achieve lasting results.

“I believe financial education is important in empowering young Nigerians to make informed decisions about their economic future. Beyond trading, young people need the right knowledge, skills and mindset to identify opportunities and build sustainable businesses,” he added.

Our correspondent, meanwhile, reports further that Ogundare’s HabbyForex Trading Academy, established in 2018, represents a strategic and deliberate move from personal trading into financial education.

Published profiles have attributed more than 10,000 students to the academy, although the figure could not be independently verified, nonetheless, it is reported that the academy’s reach and the nature of its training programmes could offer a starting point for examining how digital education businesses can equip young people with knowledge about financial markets, risk management and entrepreneurship.

“Building HabbyForex Trading Academy is about creating an avenue for people to understand the forex market and its risks. Trading should not be presented as a guaranteed way to make money; people need proper education, realistic expectations and sound risk-management strategies,” the forex expert pointed out.

While cautioning that forex trading carries it’s own substantial risks, as currency prices fluctuate, leverage can magnify losses, and no trading strategy guarantees consistent profits, Ogundare insisted that financial education must distinguish market knowledge from promises of wealth.

Ogundare, who has also been identified as the author of “Breaking the Economic Mist” as a Nigerian Youth, and was reportedly named an ECOWAS Youth Ambassador in 2022, was equally credited to a net worth estimated at $5m in media coverage in 2024, but the figure has not been verified through audited financial statements or an official disclosure of his assets and liabilities.

“The market stakeholder’s experience provides a basis for a wider discussion about youth entrepreneurship and financial education,” said a source familiar with Ogundare’s antecedents.

He acknowledged that as a student who passed through his Academy, “Establishing the scale of his academy’s impact, the outcomes achieved by its students and his specific proposals for Northern Nigeria would help determine how his experience could inform broader development efforts.”