The Securities and Exchange Commission (SEC) has announced a strategic partnership with the National Orientation Agency (NOA) to educate Nigerians on the risks associated with illegal investment schemes. The collaboration aims to tackle the growing wave of financial fraud that continues to exploit unsuspecting citizens.
Dr. Emomotimi Agama, Director General of the SEC, emphasized the importance of public awareness in protecting investors. “These schemes are appearing daily, and many fall victim due to lack of knowledge. As a management, we decided to move out to enlighten people; we cannot assume that people know. Mass communication is key, and this collaboration will help us reach every corner of the country,” he said.
The announcement was made during a meeting between Dr. Agama and NOA Director General, Lanre Issa-Onilu, in Abuja. Dr. Agama highlighted that NOA’s extensive media and communication network would be critical in reaching Nigerians nationwide, ensuring they are no longer vulnerable to fraudulent schemes.
In response, Mr. Issa-Onilu praised the SEC for its efforts to strengthen the capital market and warned that ignorance remains a major driver of financial losses. “An uninformed society is susceptible to avoidable fraud. It is our duty to equip citizens with the right knowledge to make informed decisions. We request detailed information on SEC initiatives so we can amplify them,” he said.
Issa-Onilu added that the NOA already works to instill civic values that protect Nigerians from Ponzi schemes, citing their collaboration with 193 radio and 5 television stations across the country. “Both those who promote and those who participate in these schemes are affected by wrong attitudes. Our goal is to encourage the right mindset to prevent victimization,” he explained.
source: The sun