Business - November 23, 2021

World Investor Week Nigeria’s SEC Calls for Improved Financial Literacy

Nigeria’s securities and exchange commission (SEC) calls for financial literacy in the country.

November 23, 2021

3 min read

Financial literacy is a great way to achieve financial freedom hence the need for it. Saddled with the mandate of regulating the capital market to protect investors and make way for a private sector-led economy, Nigeria’s securities and exchange commission (SEC) calls for financial literacy in the country. This was done during the celebration of the world investor week (WIW) on the Nigeria Exchange Group’s (NGX) digital closing gong platform.

The NGX in recognition of this year’s World Investor Week (WIW) in Nigeria, stated that it was pleased to join the Securities and Exchange Commission (SEC) and all securities exchanges in the country to “Ring the Bell for Financial Literacy”. According to NGX, financial literacy, and inclusion remain a top priority and it will continue to contribute to the accomplishment of major targets of Nigeria National Financial Inclusion Strategy.

This will be done through activities that encourage the general public to acquire and develop investment habits. The NGX said, “As the sustainable exchange championing Africa’s growth, we are, therefore, pleased to support the SEC on this laudable initiative”.

The Executive Commissioner, Operations, SEC, Mr. Dayo Obisan, representing the Director-General for SEC said, “The theme of this year’s World Investor Week “financial literacy” is timely given the spate of fraudulent schemes being attempted in the market today. At SEC, we continue to collaborate with stakeholders to educate the public and raise the necessary awareness to ensure investors can indeed protect themselves”. He made this known in an attempt to expose the fraudulent activities happening in the marketplace.

Nigeria Exchange Group Regulation (NGX REGCO) is in charge of overseeing the activities of the Nigeria Exchange to ensure that there is compliance with the market regulations. On the other hand, The Securities and Exchange Commission (SEC) regulates NGX REGCO, ensuring just and equitable trade practices, supporting free and open markets, and safeguarding investors.