By Peter Egwuatu
THE Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to promote financial literacy and protect young Nigerians from fraudulent investment schemes.
The agreement, signed in Abuja by SEC Director-General, Dr. Emomotimi Agama, and NYSC Director-General, Brigadier General Olakunle Oluseye Nafiu, will integrate anti-Ponzi scheme education into the NYSC’s Community Development Service (CDS) programme, particularly under its Education and Enlightenment arm.
Under the partnership, corps members will be trained to identify and avoid Ponzi schemes and other illegal investment practices, while also developing sound investment habits. The initiative is expected to strengthen nationwide awareness campaigns across local government areas and equip young Nigerians with the knowledge to make informed financial decisions.
As part of the collaboration, the SEC will provide training materials, modules, and funding for capacity-building programmes. Selected corps members and NYSC supervisors will be trained as facilitators to drive financial literacy campaigns within their host communities.
On its part, the NYSC will incorporate the programme into its orientation camps and service year activities through workshops, seminars, and awareness campaigns. Both organisations will also collaborate on joint outreach efforts using social and traditional media, while establishing mechanisms to track progress and measure impact.
Speaking at the signing ceremony, Agama said the initiative builds on the SEC’s longstanding support for the NYSC, noting that between 160 and 180 corps members currently serve with the commission.
He said the SEC is committed to equipping corps members with skills for the capital market and national development, describing them as future ambassadors of the commission.
In his remarks, Nafiu described the MoU as a significant milestone and a key performance indicator for both institutions. He commended the SEC’s efforts in promoting confidence in the capital market and stressed the importance of educating youths early to curb the spread of Ponzi schemes.
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