The Securities and Exchange Commission (SEC) said it is collaborating with the National Orientation Agency (NOA) to intensify public enlightenment campaigns against illegal investment schemes.
SEC’s Director General, Emomotimi Agama, made this known during a meeting with the NOA Director General, Mallam Lanre Issa-Onilu, in Abuja on Thursday.
He lamented that the growing prevalence of fraudulent schemes continues to undermine public trust and impoverish citizens.
“These are not supposed to be but many people fall victim due to a lack of knowledge. We know these schemes are springing up daily and these people are defrauding Nigerians.
“People are always gullible due to the need to survive. As a management, we decided to move out to enlighten people; we cannot assume that people know, we need to go out for mass communication hence this collaboration.
“It is only by co-operation that we can achieve the purpose of our existence,” Agama stated.
According to the SEC boss, there is a need to leverage NOA’s extensive grassroots communication network to ensure the anti-fraud message reaches Nigerians in every part of the country.
He believes that collaboration between both agencies would strengthen efforts to protect citizens from falling prey to fraudulent investment operators.
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“This collaboration is important because it will go a long way in ensuring that Nigerians are no longer victims of these fraudulent schemes. We appreciate that you value this country and we value the work that you do,” Agama added.
On his part, the NOA director general remarked that the SEC’s efforts have not received adequate public recognition.
“We commend you and thank you on behalf of the country, but most Nigerians are not aware of the opportunities in the capital market. An ignorant society will fall victim to many avoidable things. It is our responsibility to enlighten people to make the right decisions.
“We request that you provide information on what you do to enable us propagate them. Our primary assignment is to serve all government institutions as the communications arm. We do a lot of enlightenment in places like the religious houses, motor parks, town halls, etc, Issa-Onilu said.
He explained that NOA’s civic education initiatives are aimed at instilling positive values and responsible citizenship among Nigerians.
“Many Nigerians are deficient in good behaviour. Both the Ponzi scheme promoters and those that patronize them are suffering from the wrong attitude and values. We have to encourage people to have the right attitude so they do not fall victim to Ponzi schemes.
“We have created a lot of platforms to interact with Nigerians. At the moment, we have 193 radio stations and 5 television stations that we collaborate with for our communication,” Issa-Onilu added.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
