To close the financial literacy gap in the nation and deepen the level of financial awareness about the Nigeria’s capital market, the Securities and Exchange Commission is set to carry its awareness campaign across the country.
This is in alignment with the forthcoming World Savings Day celebration by the Central Bank of Nigeria and the entire financial sector.
Speaking on the programme, the SEC’s Technical Committee on the Financial Literacy Week (TCFLW), which comprises representatives from regulatory bodies, capital market operators and the media, said plans are being concluded to hold spe cial programmes across the geopolitical zones of the country, to coincide the world savings day.
The Chairperson of the TCFLW, Mrs. Oluwatoyin Sanni said to begin with, multiple fora would be held in Kano (Kano State) to represent the Northernzone, Port Harcourt (Rivers State) to represent the Southern zone and Abeokuta (Ogun State) for Western Nigeria.
“The literacy drive and awareness campaign will be extended to other locations as we
move on. However, we are beginning with these three locations and this would commence from the 31st October to the 4th of November,” she said.
Specifically, the event will hold in Kano by the end of this month Port Harcourt and Abeokuta early next month.
Sanni, who said the literacy drive and awareness campaign, was in line with the Capital Market 10-Year Master- Plan of the commission, noted that it is very necessary, considering the generally low level of financial literacy and capital market awareness across the country. According to her, in Nigeria, financial illiteracy, amongst other factors, could be said to have contributed to the crash of the Capital Market in 2008/2009.
“The public is largely unfamiliar with the workings and benefits of the capital market. The loss of investor confidence in the market due to crisis that hit the banking industry and capital market some years back, partly resulted from lack of financial knowledge.