In a strategic move to safeguard young Nigerians from fraudulent investment schemes, the Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to promote financial literacy nationwide.

The agreement, inked in Abuja by SEC Director-General Dr. Emomotimi Agama and NYSC Director-General Brigadier General Olakunle Oluseye Nafiu, aims to integrate anti-Ponzi scheme education into the NYSC’s Community Development Service (CDS) programme, particularly under its Education and Enlightenment initiatives.

Under the partnership, corps members will be trained to identify and avoid Ponzi schemes and other illegal investment practices while cultivating sound financial habits. The programme is expected to enhance nationwide awareness campaigns across local government areas, equipping young Nigerians with the knowledge to make informed financial decisions.

As part of the collaboration, the SEC will provide training materials, structured modules, and funding for capacity-building programmes. Selected corps members and NYSC supervisors will serve as facilitators, driving financial literacy campaigns within their host communities. Meanwhile, the NYSC will incorporate the initiative into orientation camps and service-year activities through workshops, seminars, and public awareness campaigns. Both organisations also plan joint outreach efforts via social and traditional media, complemented by mechanisms to monitor progress and measure impact.

Speaking at the ceremony, Dr. Agama highlighted that the initiative builds on SEC’s longstanding collaboration with the NYSC, noting that between 160 and 180 corps members currently serve with the commission. He emphasized that the SEC is committed to equipping corps members with essential skills for the capital market and national development, describing them as “future ambassadors of the commission.”

Brigadier General Nafiu, in his remarks, hailed the MoU as a significant milestone and a key performance indicator for both institutions. He commended the SEC for promoting confidence in Nigeria’s capital market and underscored the importance of educating youths early to curb the spread of Ponzi schemes.

The partnership marks a proactive step in empowering young Nigerians with practical financial knowledge, aiming to reduce vulnerability to scams while fostering responsible investment practices across the country.