The Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to establish a Community Development Service (CDS) group focused on educating corps members about investment risks and preventing Ponzi schemes nationwide, the SEC said in a statement.
Ponzi schemes and other fraudulent investment arrangements have posed financial risks to Nigerian investors by promising high returns with little or no risk.
Regulatory frameworks such as the Investments and Securities Act empower the SEC to regulate investment activities and protect investors from prohibited schemes.
The NYSC Community Development Service programme provides opportunities for corps members to engage in service activities that benefit communities across Nigeria. The newly signed MoU aims to integrate investment education into this existing CDS framework.
According to the SEC statement, the MoU was signed on March 22, 2026, by the SEC Director‑General, Dr Emomotimi Agama, and the NYSC Director‑General, Brig‑Gen. Olakunle Nafiu.
The initiative is designed to raise awareness about the risks of fraudulent investment schemes and to promote sound, legitimate investment practices among corps members.
Under the MoU:
SEC will develop and provide educational content, materials, and training modules on capital market operations, safe investment practices, and the identification and avoidance of Ponzi schemes.
SEC will also provide funding and resources for training sessions for selected corps members and NYSC supervisors who will serve as trainers and facilitators in their communities.
NYSC will integrate anti‑Ponzi scheme education into its Education and Enlightenment CDS programme, potentially including dedicated sessions, workshops, and awareness campaigns during orientation camps and throughout the service year.
Both organisations will collaborate on joint awareness campaigns using various platforms, including social media, traditional media, and community outreach, to disseminate information on safe investment practices.
They will also agree on mechanisms for sharing data and reporting on the progress and impact of the collaborative initiative.
Speaking during the signing, Agama said SEC’s partnership with NYSC demonstrates the commission’s long‑standing support for the NYSC scheme.
He stated that the SEC currently hosts between 160 and 180 corps members, reflecting the commission’s commitment to youth development through the programme.
Agama said, “We have consistently demonstrated our belief in the capacity of young Nigerians by providing them with opportunities to learn and grow within the capital market ecosystem… we consider them as staff of the SEC and not just anybody.”
In his remarks, Nafiu described the MoU as a milestone for both organisations. He said the NYSC believes the initiative will prevent corps members from falling prey to Ponzi schemes and other fraudulent ventures.
Nafiu said, “We believe it’s the beginning of great things to come… we remain committed to every process to execute to the letter, the terms to the betterment of the larger Nigerian society.”
The partnership aims to enhance financial literacy among corps members and empower them to identify and avoid fraudulent investment practices.
By integrating investment education into the NYSC CDS programme, the initiative seeks to expand awareness of safe investment and capital market operations among young Nigerians in communities nationwide.
