The Securities and Exchange Commission (SEC) and the National Orientation Agency (NOA) have agreed to collaborate on a nationwide campaign to protect Nigerians from Ponzi schemes and other illegal investment operations.
The Director-General of SEC, Dr Emomotimi Agama, disclosed this after a meeting with the Director-General of NOA, Malam Lanre Issa-Onilu, in Abuja on Thursday.
Agama said the partnership was aimed at preventing fraudulent schemes from thriving, noting that such operations were springing up daily and defrauding unsuspecting citizens.
“We know these schemes are springing up daily and these people are defrauding Nigerians.
“People are often vulnerable because of the need to survive. As a management, we decided to move out to enlighten people; we cannot assume that people know. We need mass communication, hence this collaboration.
“It is only by cooperation that we are able to achieve the purpose of our existence,” he said.
The SEC boss sought the support of NOA in leveraging its nationwide structure and communication channels to ensure the message reached every nook and cranny of the country.
Earlier, Issa-Onilu commended SEC for recent strides in the capital market but noted that many Nigerians were still unaware of legitimate investment opportunities.
“An ignorant society will fall victim to many avoidable pitfalls. It is our responsibility to enlighten people to take the right decisions.
“We request that you provide information on what you do to enable us propagate it.
“Our primary assignment is to serve all government institutions as the communications arm,” he said.
Issa-Onilu added that NOA was also intensifying civic education efforts to instil the right values and help Nigerians make informed financial decisions.