The Securities and Exchange Commission (SEC) has restated its commitment to further educate and enlighten investors in the Nigerian capital market to enhance their ability to make informed investment decisions.
The Acting Director General of the Securities and Exchange Commission (SEC) Ms. Mary Uduk stated this at the planning and writing workshop for the development of Capital Market Studies Curriculum (CMSC) for Basic and Senior Secondary Schools levels held in Lagos yesterday.
Uduk said that the commission has been in the vanguard of inculcating financial literacy for quite a long time because the SEC has realised that it is very important for students to imbibe the culture and habit of being financial literate and to be familiar with the operations of the capital market.
“This partnership with the Nigerian Educational Research and Development Council (NERDC), to actualise this ground breaking capital market literacy programme, is part of the SEC’s effort at vigorously pursuing the implementation of one of the essential initiatives of the 10-year Nigerian Capital Market Master Plan,” he said.
The DG said the implementation programme kick-started with the signing of a Memorandum of Understanding between the commission and the NERDC in 2016, to develop a Standalone Capital Market Studies (CMS) curriculum for infusion into Basic and Senior Secondary Schools.
“I am happy to announce that, after a successful workshop for contents selection, the stage is now set for the planning and writing of the standalone curriculum.The commission recognises the efforts required for other stages of the programme and remain confident that with the active support and commitment of our stakeholders we will complete this project,” she stated.
In his address, Executive Secretary, (NERDC) Prof. Ismail Junaidu said the capital market connects the financial sector with the real sector of the economy and in the process, facilitates real sector growth and economic development.
He added that this increases the proportion of long term savings that are channelled to long term individuals/households and channels them into long term investments and fulfils the transfer of current purchasing power from surplus sectors of the economy to deficit sections.
Junaidu, described capital market education as a strategic imperative which requires a comprehensive curriculum run by competent academic and professional personnel adding that early involvement of the youth in Capital Market Studies could derive profit, growth and perhaps be the much sought antidote to over dependence on paid employments was one of the reasons the SEC approached NERDC to mainstream capital market issues into the national curriculum.