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By Chukwuma Umeorah
The Securities and Exchange Commission (SEC) has announced a collaboration with the National Orientation Agency (NOA) to enlighten Nigerians on the dangers of illegal investment schemes.
Director General of the SEC, Dr. Emomotimi Agama, said the move aims to prevent Nigerians from falling victim to fraudulent schemes, which often exploit citizens’ lack of knowledge. “These are not supposed to be, but many people fall victim due to lack of knowledge. We know these schemes are springing up daily, and people are being defrauded. 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.”
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Agama made this call at a meeting with NOA DG, Lanre Issa-Onilu in Abuja. He added that the SEC seeks NOA’s support to reach Nigerians across the country through its wide media and communication network. “This collaboration is important because it will go a long way at ensuring Nigerians are no longer victims of these fraudulent schemes. We appreciate that you value this country and we value the work that you do,” he said.
In response, Issa-Onilu commended the SEC on the capital market’s recent achievements, noting that most Nigerians remain unaware of the opportunities available. “An ignorant society will fall victim to many things that are avoidable. 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 them,” he said.
He explained that the NOA engages in civic education to instill values that can protect Nigerians from falling prey to Ponzi schemes. “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 victims. At the moment, we have 193 radio stations and 5 television stations that we collaborate with for our communication,” Issa-Onilu said.
