Nigerian forex trader and entrepreneur, Damilare Ogundare, popularly known as Habby Forex or HabbyFX, has highlighted the potential of financial education and digital entrepreneurship to expand economic opportunities for young Nigerians, particularly in Northern Nigeria.
Ogundare, who spoke in an interview with the Triumph on Friday, said his experience in the foreign exchange market had shaped his interest in trading education and entrepreneurship through his HabbyForex Trading Academy.
Born on March 18, 2001, in Osun State, Ogundare reportedly began trading as a teenager and said he recorded his first million-naira milestone at the age of 18.
“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.
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.
For Northern Nigeria, where concerns about out-of-school children, unemployment and limited access to quality education remain important development issues, financial literacy could form part of a broader strategy to improve economic participation.
However, 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.
Ogundare’s HabbyForex Trading Academy, reportedly established in 2018, represents his 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.
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,” further stated.
Forex trading, however, carries substantial risks. Currency prices fluctuate, leverage can magnify losses, and no trading strategy guarantees consistent profits. Financial education must therefore distinguish market knowledge from promises of wealth.
Ogundare has also been identified as the author of Breaking the Economic Mist as a Nigerian Youth. He was reportedly named an ECOWAS Youth Ambassador in 2022, although the scope of that recognition could not be independently established.
His reported net worth was 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.
For Northern Nigeria, 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 could also complement initiatives aimed at improving school participation and creating alternatives for vulnerable children, including those affected by the Almajiri system. Trading should not be presented as a substitute for basic education or as a guaranteed escape from poverty.
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.
Ogundare’s experience provides a basis for a wider discussion about youth entrepreneurship and financial education. 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.
