Stakeholders in Northern Nigeria are pushing for young people and students in the Almajiri system to take up financial education and digital entrepreneurship as a way to broaden their economic prospects. Damilare Ogundare, a forex trader and entrepreneur with a strong presence in parts of Northern Nigeria, made the call while highlighting how financial and digital literacy can help individuals make better economic decisions. He said properly designed programmes could introduce young people to budgeting, saving, entrepreneurship and online work, while also teaching them about the risks linked to speculative financial products. Such efforts could complement other initiatives aimed at improving school attendance and creating alternatives for vulnerable children, including those in the Almajiri system, he added.
Ogundare cautioned, however, that trading should not be presented as a substitute for basic education or as a guaranteed escape from poverty. He stressed that Northern Nigeria'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. Speaking in an interview, he said his experience in the foreign exchange market had shaped his interest in trading education and entrepreneurship through his HabbyForex Trading Academy. He began trading as a teenager and reached his first million-naira milestone at the age of 18, an experience that he said taught him the importance of discipline, patience and continuous learning.
Ogundare noted that his interest in financial education 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. For Northern Nigeria, where out-of-school children, unemployment and limited access to quality education remain significant development issues, he maintained that a deliberate embrace of the market could form part of a broader strategy to improve economic participation. He advised that experts and policymakers would need to combine financial literacy initiatives with foundational education, vocational training, access to technology and employment opportunities to achieve lasting results.
The HabbyForex Trading Academy, which Ogundare established in 2018, represents a shift from personal trading into financial education. Published profiles have attributed more than 10,000 students to the academy, though this figure could not be independently verified. Ogundare stressed that the academy was about creating an avenue for people to understand the forex market and its risks. He pointed out that trading should not be presented as a guaranteed way to make money, and people need proper education, realistic expectations and sound risk-management strategies. Forex trading carries substantial risks, as currency prices fluctuate, leverage can magnify losses, and no trading strategy guarantees consistent profits, he cautioned.
Ogundare said financial education must distinguish market knowledge from promises of wealth. He stressed that beyond trading, young people need the right knowledge, skills and mindset to identify opportunities and build sustainable businesses. According to a source familiar with his background, establishing the scale of the 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.