The Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to establish a Community Development Service (CDS) group dedicated to investment education for corps members as part of efforts to curb the spread of Ponzi schemes in Nigeria.
The agreement was signed in Abuja by the Director-General of SEC, Dr. Emomotimi Agama, and the Director-General of NYSC, Brigadier General Olakunle Oluseye Nafiu.
Under the partnership, anti-Ponzi scheme education will be integrated into the NYSC’s CDS programme, particularly within the Education and Enlightenment arm, to help corps members understand and identify fraudulent investment schemes.
The initiative aims to equip corps members with the knowledge to recognise Ponzi schemes and other illegal investment practices, while also promoting responsible investment habits among young Nigerians.
Through the programme, trained corps members are expected to drive financial literacy campaigns in communities across the country, helping to raise awareness and encourage informed financial decision-making.
As part of the collaboration, the SEC will provide training materials, modules, and financial support for capacity-building programmes designed to strengthen investment education.
Selected corps members and NYSC supervisors will also receive specialised training to serve as facilitators and trainers, enabling them to lead awareness campaigns within their host communities.
According to the SEC Director-General, the commission will take responsibility for developing the educational content and providing the resources required to run the programme.
“SEC will be responsible for the content, resources and funding of training sessions for selected members and NYSC supervisors who will serve as trainers and facilitators in their respective communities,” Agama said.
On its part, the NYSC will integrate the programme into orientation camp activities and service year engagements, including workshops, seminars, and awareness campaigns aimed at educating corps members and their host communities.
Both organisations also agreed to collaborate on joint outreach initiatives using social and traditional media platforms, while putting in place mechanisms to monitor progress and assess the impact of the programme nationwide.
Speaking during the signing ceremony, Agama described the initiative as an extension of the long-standing relationship between the SEC and the NYSC.
He noted that between 160 and 180 corps members are currently serving with the commission, adding that the SEC remains committed to empowering them with relevant skills that support national development and the growth of Nigeria’s capital market.
Agama further described corps members as future ambassadors of the commission, capable of promoting financial literacy and responsible investment culture across the country.
In his remarks, the NYSC Director-General, Brigadier General Nafiu, described the partnership as a significant milestone for both organisations.
He commended the SEC for its efforts in strengthening investor confidence in Nigeria’s capital market and emphasised the need to educate young people early in order to tackle the growing threat of Ponzi schemes.
Nafiu noted that the collaboration would help expand financial education among Nigerian youths while supporting efforts to curb fraudulent investment practices nationwide.
Leave a Reply