SEC Partners with Labour Unions on Investor Education

The Securities and Exchange Commission has revealed its partnership with labour unions in the country for the establishment of a financial literacy and investor education drive targeted at Nigeria workers. The Commission says the drive is aimed at enhancing personal financial planning among Nigerians and instilling a culture of saving and investing in the workforce. The Commission elaborated this in a statement on Thursday that the campaign, themed ”˜SEC investor education partnership with labour’, was conceived based on the market development mandate of SEC, which is contained in the Investment and Securities Act 2007. “This mandate has been reinforced by the 10-Year Capital Market Master Plan, which SEC is currently leading the Nigerian capital market industry to implement and by the flagship role assigned to Nigeria in the strategic blueprint of IOSCO. LOSOCO is the global umbrella for securities market regulation, as the Africa and Middle East regional hub for education, training and research for the securities market.” Through the partnership, SEC said it would share “actionable information and building skills on personal financial planning, investment opportunities in the Nigerian capital market and the investor protection role of SEC with members of organised labour, represented by the 26 affiliate unions of the Nigerian Labour Congress and the Trade Union Congress. According to the Head, Market Development Department at SEC, Mr. Obi Adindu, “the strategic objective of SEC is to stimulate a pool of investible resources derived from the savings culture of Nigerian workers, which may then be channeled to the Nigerian capital market since the most successful capital markets are auto-centric and dependent on the participation and patronage of their country’s nationals.