NOA, SEC partner to boost capital market participation, tackle ponzi schemes
…as NOA plans to deploy 818 offices
In a bid to deepen public understanding and participation in the nation’s financial system, the National Orientation Agency (NOA) and the Securities and Exchange Commission (SEC) have strengthened their collaboration to sensitise Nigerians to investment opportunities in the Nigerian capital market.
Addressing a delegation from the SEC, the Director-General of NOA, Mallam Lanre Issa-Onilu, commended the Commission for its reforms and achievements under its current leadership, noting significant strides in strengthening regulatory oversight and boosting investor confidence in recent years.
Issa-Onilu described the proliferation of Ponzi schemes as a reflection of a deficit in the nation’s value system, stressing that the Agency remains committed to value reorientation. He said this commitment informed the development of the National Values Charter, which clearly outlines the principles and responsibilities that define a responsible Nigerian citizen.
Highlighting the Agency’s extensive reach, he disclosed that the NOA would leverage its 818 offices nationwide, 193 partner radio stations broadcasting in 72 Nigerian languages, and the Big Five television networks—Channels, Arise, AIT, TVC and NTA—to educate Nigerians on opportunities within the capital market.
Earlier, the Director-General of SEC, Dr Emomotimi Agama, stated that the Commission is the apex regulator of Nigeria’s capital market, overseeing the Nigerian Exchange Group (NGX) and other investment platforms.
He noted that these platforms provide individuals with opportunities to participate in mainstream investments, thereby supporting the country’s economic growth and development.
Agama added that the partnership with the NOA is strategic, as the Commission seeks to leverage the Agency’s extensive networks to educate Nigerians about capital market opportunities while also sensitising them to fraudulent schemes, including Ponzi operations, used by unscrupulous individuals to exploit unsuspecting investors.
