The National Orientation Agency (NOA) and the Securities and Exchange Commission (SEC) have signed a Memorandum of Understanding (MoU) aimed at educating Nigerians on safe investment practices and curbing the proliferation of Ponzi schemes across the country.
At the signing ceremony, the Director-General of NOA, represented by the Director of Special Duties and State Operations, David Akoji, reaffirmed the agency’s commitment to collaborating with the SEC to achieve the objectives of the partnership.
He expressed concern over the increasing cases of financial crimes disguised as investment opportunities, noting that the collaboration would equip Nigerians with the knowledge needed to make informed financial decisions.
Akoji commended the SEC for initiating the partnership and reiterated NOA’s dedication to its success.
He also disclosed that capacity-building programmes for NOA staff would commence soon to ensure the effective dissemination of accurate information on safe investment practices nationwide.
In his remarks, the Director-General of SEC, Dr Emomotimi Agama, represented by the Commissioner for Operations, Bolaji Ajimola, welcomed the collaboration and described it as timely.
He highlighted the growing threat of fraudulent investment schemes, noting that while the SEC has intensified public awareness campaigns, the agency requires the grassroots reach of NOA to effectively educate Nigerians at all levels.
Agama described the signing of the MoU as a significant milestone in efforts to protect citizens from financial scams, expressing optimism that the partnership would strengthen investor education and reduce the spread of Ponzi schemes in the country.
