SEC Urges Nigerian Civil Servants to Invest in Capital Market for Wealth and Retirement Security
Nigeria’s Securities and Exchange Commission (SEC) has called on civil servants to actively engage in the capital market as a means of building wealth, securing retirement, and contributing to national economic growth. During a strategic meeting with the Head of Service of the Federation, Dame Didi Walson-Jack, SEC Director General Emomotimi Agama emphasized that the capital market is no longer distant from public servants’ daily lives but a practical platform for long-term financial planning.
Agama highlighted that civil servants should move beyond earning salaries to becoming stakeholders in the economy. He explained that the Contributory Pension Scheme (CPS) already connects millions of workers to the capital market, as pension funds are invested in government bonds, equities, infrastructure funds, and other instruments. The performance of these investments directly influences retirement benefits, making active participation in the market crucial.
To encourage greater involvement, Agama proposed a structured financial literacy program specifically tailored for civil servants. The program would cover savings strategies, investment planning, home ownership, and education funding, delivered through workshops, seminars, and digital platforms. “A financially literate civil service is more stable, productive, and secure,” he noted, emphasizing that informed workers are better positioned to make sound financial decisions.
Agama also pointed out that capital market instruments, including mutual funds, REITs, and mortgage-backed securities, could help address housing challenges and provide more accessible pathways to property ownership. He called for stronger collaboration between the SEC and civil service institutions, including integrating capital market education into the training curriculum of establishments like the Administrative Staff College of Nigeria (ASCON).
Head of Service Didi Walson-Jack welcomed the proposals, highlighting the need to ensure civil servants retire with financial security and tangible assets. She stressed that many civil servants currently leave service with little to show for decades of work and expressed readiness to partner with the SEC on training programs, extending support to retirees. Agama also warned against investing in unregistered entities, citing the prevalence of Ponzi schemes among civil servants, and pledged that the SEC would provide guidance to protect workers’ hard-earned funds.
source: Business day