March 23, 2023

Global Money Week: SEC urges young Nigerians to save for the future

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By Obas Esiedesa, Abuja 

The Securities and Exchange Commission, SEC, has urged young Nigerians to plan for their future by engaging in savings and investments from an early age. 

The Commission’s Director Market Development, Mr. Nestor Ikeagu who stated this yesterday said the Commission is on a drive to educate and enlighten the youths on money management as well as encourage them on investment opportunities available in the capital market.

The Global Money Week promotes efforts aimed at improving the financial literacy of young people. The ultimate goal of the campaign is to ensure that all children and young people have access to high-quality financial education, they learn about money matters and are able to make smart financial decisions that can improve their future financial resilience and financial well-being.

“We are proud to be part of this annual financial awareness campaign highlighting the importance of teaching children & youth about financial education & financial literacy. These sensitisations to Gwagwalada and Nassarawa is aimed to directly speak to the children and youths and highlight how important this is to the SEC.

“For today, we have reached out to students in secondary school with the message on what they can do at this early stage to groom them to better manage their money and also explore avenues of investing. We will continue reaching out to them and mentor them on how to plant their future”, he stated.

Speaking at the Government Day Secondary School, Karu, Abuja, Senior Manager Market Development Department, Mr. Musa Dakup told the students to be financially prudent and prioritise their spending. 

“You should not always spend, you need to plan to do meaningful investments with the money you get. You need to have a culture of savings and investments so that you can plan for your future. Don’t waste money, invest your money. Plan for your future and that is why we are here today to enlighten you. The SEC is available to educate and enlighten you to assist you in making sound financial decisions”. 

Dakup enjoined the students to check very well before investing to avoid patronising illegal fund managers. 

“Be careful of investments that promise you unreasonably high returns, they never end well. Before long they close down and vanish with investors’ funds”.