SEC calls for financial literacy to protect investors, commemorates world investor week

The Securities and Exchange Commission (SEC) has called for financial literacy to protect investors during the commemoration of World Investor Week (WIW) 2021.

The regulator said this when they rang the bell of the Nigerian Exchange Group’s digital closing gong platform on Monday in commemoration of World Investor Week (WIW) 2021.

The World Investor Week (WIW) is a global campaign supported by securities regulators and investors.

Olu Bolumole, divisional head, listings business, NGX, said that the stock market leveraged the platform to accentuate Nigeria’s financial inclusion goals, saying it was topmost on the exchange’s agenda.

“NGX is pleased to join the apex regulator of the Nigerian capital market, the SEC and all securities exchanges in Nigeria to ring the bell for financial literacy in honour of SEC’s commemoration of the 2021 WIW,” Bolumole said.

“Financial literacy and inclusion remain a top priority for us at NGX and we continue to make it a priority to contribute our quota towards the achievement of key targets of Nigeria’s national financial inclusion strategy through initiatives that encourage the wider investing public to develop investment habits.

“As the sustainable exchange championing Africa’s growth, we are, therefore, pleased to support the SEC on this laudable initiative.”

On his part, Lamido Yuguda, the director-general, SEC, represented by Dayo Obisan, the executive commissioner, operations, SEC, commended NGX and the entire capital market body for providing the platform and supporting the SEC in its efforts to build a safe and active capital market.

“The theme of this year’s WIW is timely given the spate of fraudulent schemes being attempted in the market today,” he added.

Yuguda said that SEC would not cease to partner with allies to create a safe space for the general public and investors in the financial terrain.

“At SEC, we continue to collaborate with stakeholders to educate the public and raise the necessary awareness to ensure investors can indeed protect themselves,” he added.

NGX said it observed WIW from October 4 to 10 by implementing activities, including hosting a free webinar and an Instagram live session on how retail investors could utilise the opportunities in the capital market and invest sustainably. 

The activities culminated in a virtual “ring the bell for financial literacy” with Odunayo Eweniyi, co-founder and chief operating officer, PiggyVest.