The National Orientation Agency (NOA) and the Securities and Exchange Commission (SEC) have signed a Memorandum of Understanding (MoU) to enlighten Nigerians on safe investment practices and prevent the spread of Ponzi schemes.
The Director General of NOA, Mallam Lanre Issa-Onilu, who was represented at the event by the Director of Special Duties and State Operations, Mr David Akoji, affirmed the Agency’s readiness to work with SEC to achieve the set objectives.
He noted that there have been several reports in the past of financial crimes disguised as investment opportunities, stressing that the collaboration will provide Nigerians with the necessary information to make informed financial decisions.
He applauded SEC for initiating the partnership and emphasised that the NOA remains committed to achieving the objectives of the collaboration.
He disclosed that capacity building programmes for the Agency’s staff will commence soon to ensure that accurate information is disseminated across the length and breadth of the nation on safe investment practices.
Speaking, the Director General of SEC, Dr Emomotimi Agama, who was represented by the Commissioner for Operations Bolaji Ajimola, also expressed excitement about the collaboration.
He noted that there have been growing concerns about financial scams disguised as legitimate investment schemes in the past.
He stated that SEC has already launched widespread campaigns against such occurrences but requires the extensive grassroots reach of NOA to effectively inform Nigerians nationwide.
The DG of SEC added that it was an honour to host the NOA and sign the Memorandum of Understanding, describing the partnership as a significant step toward protecting Nigerians from fraudulent investment schemes.
Written by Abiola Peters