The Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding to create a Community Development Service (CDS) group aimed at educating corps members on investment safety and combating Ponzi schemes nationwide.
According to a statement by the SEC, the initiative is designed to promote financial literacy, equip young Nigerians with the skills to identify fraudulent investment schemes, and encourage responsible investment practices.
The agreement was signed by SEC Director-General, Dr Emomotimi Agama, and NYSC Director-General, Brig.-Gen. Olakunle Nafiu.
Under the partnership, the SEC will provide training materials, educational content, and funding for sessions on capital market operations and safe investment practices. It will also train selected corps members and supervisors to serve as facilitators in their communities.
The NYSC, on its part, will integrate anti-Ponzi scheme education into its CDS programmes, including orientation camps, workshops, and nationwide awareness campaigns.
Both agencies will also collaborate on media outreach and data sharing to track the impact of the initiative.
Agama said the SEC currently hosts about 160 to 180 corps members, describing them as key contributors to financial education efforts and future ambassadors of the capital market.
NYSC DG Nafiu said the partnership marks a significant step in protecting young Nigerians from fraudulent schemes, adding that early education is critical to preventing financial exploitation.
He expressed confidence that the collaboration would strengthen public awareness and reduce the spread of Ponzi schemes across the country.
