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The Securities and Exchange Commission (SEC) is set to empower women in Nigeria’s capital market through a training program in capital market literacy. The program, which will be conducted through the Nigerian Capital Market Institute (NCMI), aims to increase women’s participation in the capital market.
According to SEC Director General, Dr. Emomotimi Agama, “In all we do, protection is key, and investor education is also very important. We pledge to support the work you are doing by offering to provide financial knowledge to women. We will offer financial education at the NCMI to selected women once a month.”
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Agama emphasized the importance of women’s participation in the capital market, stating, “Women have been left out of the capital market for too long; they need to be empowered. The $1 trillion dollar economy being proposed by President Bola Tinubu cannot be possible without women.”
The Minister of Women Affairs, Hajia Imaan Suleiman-Ibrahim, expressed her support for the initiative, saying, “We are ready to collaborate with you as it will help with reporting, build momentum, and sustain it. There is nothing we cannot achieve when we set out to do it. Women alone can help achieve the $1 trillion economy.
She also highlighted the importance of digital inclusion and access to finance for women, stating, “We are working with all the relevant agencies for digital inclusion and access to finance, among others for women. We are collaborating with the financial sector on getting single-digit interest rates for women.”
For further information, read more details here
Executive Commissioner Legal and Enforcement of the SEC, Ms. Frana Chukwuogor, warned women against Ponzi schemes, saying, “Ponzi schemes are illegal investment behaviors that build on nothing. We need to enlighten Nigerians about the dangers of Ponzi, and we think going all out to enlighten women will make our job easier.”
She emphasized the importance of protecting one’s wealth, stating, “If anything looks too good to be true, then it is not good; we want the women to tell others because women always move in groups. We want the women to protect what they have and not fall prey to Ponzi; we are starting with the women because if we have them on board, then we have the whole nation.”
Chukwuogor further noted, “Wealth creation is one thing, and the ability to sustain it is another thing. We are not just creating wealth; we are also teaching people how to sustain it.”
The SEC Director General, Dr. Emomotimi Agama, reiterated the Commission’s commitment to protecting investors and promoting financial literacy, saying, “Our being here today is part of our commitment to bring about a new paradigm shift in the education of women on capital market issues.”
He expressed his appreciation for the collaboration with the Ministry of Women Affairs, stating, “We seek the collaboration of the Ministry to attract more Nigerian women to the capital market, adding that the task ahead is enormous and the Commission is ready to give all that is required in ensuring that women are not left out.”
The Minister of Women Affairs, Hajia Imaan Suleiman-Ibrahim, assured that the Ministry is ready to collaborate with the SEC to ensure that Nigerian women partake in the benefits of investing in the capital market, saying, “In me, you have found an ambassador that will see this process to realization. We will teach Nigerian women how to make money and give them the support that they need.”
She emphasized the importance of empowering women, stating, “We will use what we have to ensure that women have access to resources to learn and be financially literate.”
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