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 aimed at educating corps members on safe investment practices and the risks of fraudulent schemes nationwide.
The initiative is designed to promote financial literacy among young Nigerians, equipping them with the knowledge and skills needed to identify and avoid Ponzi schemes and other illegal investment activities. The collaboration will also enhance public awareness campaigns across all Local Government Areas in the country.
Under the MoU, the SEC will develop and provide educational content, training modules, and resources on capital market operations and safe investment practices. Selected corps members and NYSC supervisors will be trained as facilitators to conduct workshops, awareness campaigns, and outreach programs within their communities.
The NYSC will integrate anti-Ponzi scheme education into its Education and Enlightenment CDS program, including sessions during orientation camps and throughout the service year. Both organizations will collaborate on multi-platform awareness campaigns using social media, traditional media, and community engagement, while sharing data and reporting progress.
Speaking at the signing, SEC Director-General Dr. Emomotimi Agama highlighted the commission’s commitment to corps members, describing them as ambassadors of the SEC. NYSC Director-General Brig.-Gen. Olakunle Nafiu praised the initiative as a strategic step to educate youths early and prevent them from falling victim to financial fraud, promising full commitment to the program’s execution.