NYSC Set to Launch New Investment Programme as Part of CDS for Corps Members
- SEC and NYSC signed an MoU to introduce an investment education CDS group for corps members
- The initiative aims to improve financial literacy and combat Ponzi schemes among young Nigerians
- According to the MOU, the SEC will provide training resources and fund capacity-building for facilitators
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology, and macroeconomic trends in Nigeria.
The National Youth Service Corps (NYSC) has announced plans to introduce an investment-focused Community Development Service (CDS) group for corps members nationwide.
PUNCH reported that the NYSC and the Securities and Exchange Commission (SEC) have signed a Memorandum of Understanding (MoU) on ways to execute the plan.
Source: Twitter
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The initiative aims to improve financial literacy among young Nigerians and raise awareness about fraudulent investment schemes, particularly Ponzi operations.
Corps members to receive training on smart investment
According to a statement by the SEC, the agreement was signed by its Director-General, Emomotimi Agama, and the NYSC Director-General, Olakunle Nafiu.
Under the partnership, corps members will receive training to help them identify and avoid illegal investment schemes, while also learning about legitimate investment opportunities.
The programme is expected to equip participants with the knowledge needed to make informed financial decisions and promote responsible investment habits.
Corps members to drive grassroots awareness
As part of the collaboration, corps members will support awareness campaigns across local government areas, serving as channels for financial education in their host communities.
The SEC will provide training materials, modules, and resources covering capital market operations, safe investment practices, and fraud detection. It will also sponsor training sessions for selected corps members and NYSC officials, who will act as facilitators.
NYSC to integrate programme into CDS activities
On its part, the NYSC will incorporate anti-Ponzi scheme education into its existing Education and Enlightenment CDS programme.
This will be delivered through orientation camp lectures, workshops, and community outreach activities aimed at educating the public.
Both organisations also plan to expand awareness through social media, traditional media platforms, and grassroots engagement initiatives.
Officials highlight benefits of partnership
Speaking at the signing ceremony, Agama said the initiative aligns with the SEC’s commitment to youth development, noting that corps members exposed to such training gain valuable knowledge for personal and national growth.
Nafiu described the agreement as a major step forward, adding that early financial education is key to protecting young Nigerians from fraudulent schemes.
He expressed confidence that the partnership would deliver long-term benefits for society.
Source: Twitter
SEC threatens crackdown on promoters of Ponzi schemes
Legit.ng earlier reported that the SEC announced that it was strengthening partnerships with major law enforcement agencies to investigate and prosecute Ponzi scheme operators and promoters in Nigeria.
The commission threatened to freeze accounts and seal offices linked to illegal investment promoters, noting that the Ponzi schemes damage confidence in the financial system.
It urged Nigerians to verify investment claims with regulators, stressing that illegal schemes lead to significant economic losses for both individuals and the country.
Source: Legit.ng
