Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
In a strategic move to protect young Nigerians from fraudulent investment schemes and enhance financial literacy, the Securities and Exchange Commission (SEC) has partnered with the National Youth Service Corps (NYSC) to integrate anti-Ponzi scheme education into the national youth service programme. The agreement, signed in Abuja on March 22, 2026, by the Director-General of the SEC, Dr. Emomotimi Agama, and the Director-General of the NYSC, Brigadier-General Olakunle Oluseye Nafiu, aims to equip corps members and their communities with the knowledge to recognise and avoid financial fraud.
The partnership embeds financial education into the Community Development Service (CDS) component of the NYSC programme, which engages corps members in community service across the country. The initiative will include workshops, orientation camp sessions, and outreach campaigns, focusing on practical skills to identify risky investment schemes, understand legitimate market operations, and make informed financial decisions.
Ponzi schemes, which promise unrealistic returns by using new investors’ funds to pay earlier participants, have caused significant financial losses for Nigerians, particularly young and inexperienced investors. These schemes proliferate due to limited financial knowledge and lack of access to reliable guidance. By targeting youth nationwide, the SEC and NYSC aim to curb the reach of such fraudulent operations and instill a culture of responsible investing.
The SEC will provide educational materials, training modules, and resources covering capital market operations, safe investment practices, and methods for detecting fraudulent schemes. Selected corps members and supervisors will undergo specialised training to serve as facilitators and peer educators within their host communities.
The NYSC will integrate these modules into existing CDS activities, allocating time during orientation camps for financial literacy sessions and enabling corps members to conduct community awareness campaigns. Corps members, deployed across all 774 local government areas of Nigeria, are uniquely positioned to act as ambassadors of financial knowledge, spreading awareness to communities that may lack access to formal financial education.
Dr. Agama emphasised that the programme is a proactive response to persistent threats from financial fraud and a way to empower young Nigerians to make informed financial choices. Brigadier-General Nafiu highlighted that the initiative enhances the youth service experience by combining community development with essential life skills that will benefit corps members long after their service year.
Beyond preventing fraudulent schemes, the initiative is expected to strengthen participation in legitimate financial markets and build trust in regulated investment channels. The collaboration also plans joint public awareness campaigns using traditional media, digital platforms, and community outreach to reach as many citizens as possible. Mechanisms will be established to monitor and evaluate the programme’s impact, allowing adjustments to ensure continued effectiveness.
Financial educators and consumer advocates have welcomed the initiative, noting that early intervention through education can significantly reduce vulnerability to investment fraud. By leveraging the nationwide reach of the NYSC and the regulatory expertise of the SEC, the programme seeks to create a generation of financially literate and vigilant citizens.
As the programme rolls out across orientation camps and community service groups, attention will focus on its effectiveness in raising financial awareness, curbing fraudulent schemes, and promoting responsible investment practices. If successful, the initiative could serve as a model for similar collaborations in other sectors where education and awareness are key to national development.
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