By PETER EGWUATU
The Securities and Exchange Commission (SEC) has intensified its effort towards developing the Nigerian capital market by extending its public enlightenment programme to members of the National Youth Service Corps (NYSC).
According to a statement made available to Vanguard, the exercise which is taking the Commission to the NYSC orientation camps in 36 states of the Federation and the Federal Capital Territory FCT Abuja is first of its kind and aimed among others, at educating the corps members on various opportunities in the capital market.
The Director-General of NYSC in a letter to the Director-General of the Commission declared that approval has been given to SEC to deliver lectures to corps members on “Awareness Creation on Opportunities in the Capital Market” at the NYSC orientation camps in thirty-six (36) states of the Federation and the Federal Capital Territory.
The statement noted that the Commission will enlighten corps members on the structure of the Nigerian financial system, evolution of the Nigerian capital market, instruments in the capital market, how the capital market works, segments of the market and how to buy and sell shares as well as how to utilize the Collective Investment Schemes, CIS, to invest in the market.
In addition, the Commission will seize the opportunity to enlighten the corps members on how to protect themselves in the market, especially against Ponzi schemes and wonder banks. Benefits in the stock market and career development in the market are also part of what the Commission will expose the corps members to.
Also included in the topics to be treated at the orientation camps are risks in the stock market, issues of concern in the Nigerian capital market, role of SEC in the Nigerian capital market, as well as complaints management in the market.
Apart from being part of its market development strategies of the apex regulator of the Nigerian Capital Market, the enlightenment of Corps members in the Orientation camps is part of the SEC’s corporate social responsibility initiatives.
It should be noted that the Commission’s enabling law, the Investments and Securities Act no. 45 of 2007 empowers the Commission to perform the dual role of market regulation and development.
According to the statement, “As the apex regulatory body of the Nigerian capital market, the Commission has in recent times embarked on a number of market development strategies. These include investor outreaches, stakeholders’ meetings, investor education, public enlightenment, workshops, awards for integrity, training for journalists and institution of award for journalists, retreats among others.”