The Securities and Exchange Commission (SEC) and the National Pensions Commission (Pencom) have agreed to work together to ensure more Nigerians are brought into the financial literacy net.
The resolution was reached at a meeting between the Technical Committee on Financial Literacy and Pencom, held in Abuja.
Head Market Development Department of the SEC, Edward Okolo, said the aim of the visit was to strengthen collaboration between the committee and Pencom so as to improve financial literacy among Nigerians.
He disclosed that the committee is currently in partnership with FMDQ on the training of students on their platform so as to increase their interest in Capital Market Issues
“We would like to have an open window to collaborate with you, where we could get ideas from you. We should try to collaborate more with the investors and give them avenues for value optimization,” Okolo added.
Also commenting, member of the Committee, Omagbitse Barrow expressed the need for the committee to collaborate with relevant agencies and foster a multi directional approach to what the Financial Literacy Committee does.
According to Barrow, “We believe that when more members of the public are financially literate, they will make better financial decisions and deepen their participation in the market.
“We have to work at financial literacy from the foundation, how to get people to manage their resources better before we can move on to investing in the capital market. The more people who are selling their products are interested in financial literacy the more products they will sell. Let’s broaden financial literacy approach so that the public will get value from the financial system. Financial literacy is about the people, the investors and ordinary Nigerians.”
Photo Caption: L-R, Divisional Head, Investor Education, Securities and Exchange Commission Mr Tunde Kamali, Head, Investment Supervision Department, PENCOM Dr Farouk Aminu, Director, Market Development Department, SEC Mr Edward Okolo and Member, Market-Wide Technical Committee on Financial Literacy, Mr Omagbitse Barrow during a meeting with NAICOM in Abuja, Tuesday
