Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have formalised a strategic partnership aimed at embedding financial literacy and anti-Ponzi education into the national service programme.
This is in a move to shield young Nigerians from the growing menace of fraudulent investment schemes.
The collaboration, sealed through a Memorandum of Understanding (MoU) signed in Abuja, marks a significant step toward strengthening investor education at the grassroots level by targeting thousands of corps members annually.
The agreement was executed by Emomotimi Agama, director-general, SEC, and Olakunle Oluseye Nafiu, his NYSC counterpart, at the NYSC headquarters.
At the heart of the initiative is the integration of anti-Ponzi scheme campaigns into the NYSC’s Community Development Service (CDS), specifically under its Education and Enlightenment arm.
The move is designed not only to educate corps members on identifying fraudulent investment schemes but also to cultivate a culture of responsible and informed investing among Nigeria’s youth population.
Under the terms of the agreement, the SEC will spearhead the development of comprehensive educational materials and training modules covering capital market operations, safe investment practices, and strategies for identifying and avoiding Ponzi schemes.
The Commission will also fund and facilitate specialised training sessions for selected corps members and NYSC officials, who will, in turn, serve as facilitators within their host communities.
The NYSC, on its part, will ensure the seamless integration of these training modules into its existing CDS framework. This will include structured workshops, sensitisation campaigns during orientation camps, and continuous engagement throughout the service year.
By leveraging its nationwide presence across all local government areas, the scheme is expected to amplify awareness and significantly reduce the vulnerability of young Nigerians to financial fraud.
Both institutions also pledged to collaborate on extensive public awareness campaigns using a blend of traditional media, digital platforms, and grassroots outreach initiatives.
In addition, mechanisms will be established for data sharing and performance tracking to assess the impact and effectiveness of the programme over time.
Speaking at the signing ceremony, Agama underscored the SEC’s longstanding commitment to youth development through the NYSC scheme.
He revealed that the Commission currently hosts between 160 and 180 corps members, one of the highest among public institutions in the country.
“We have consistently demonstrated our belief in the capacity of young Nigerians by providing them with opportunities to learn and grow within the capital market ecosystem.
“These corps members are not just participants; we regard them as integral members of our workforce. By equipping them with the right knowledge and values, we are preparing them to become ambassadors of sound investment practices in society,” he said.
Agama further emphasised that the initiative aligns with the Commission’s broader mandate of investor protection and market development, noting that early education remains a critical tool in combating financial scams.
In his remarks, Nafiu described the partnership as a milestone achievement and a key performance indicator for both organisations.
He commended the SEC for its proactive role in promoting trust and participation in Nigeria’s capital market, noting that the collaboration would have far-reaching benefits for the nation.
“It is important to catch them young,” he said, referring to corps members. “By instilling the right financial habits at this stage, we can prevent them from falling prey to Ponzi schemes and other fraudulent ventures.”
He assured that the NYSC would remain fully committed to implementing the agreement, adding that the execution phase would be carried out diligently to ensure maximum impact on Nigerian society.
The initiative comes at a time when Nigeria continues to grapple with the proliferation of Ponzi schemes and unregulated investment platforms, many of which have resulted in significant financial losses for unsuspecting citizens.
