SEC has urged civil servants to tap into capital market opportunities to build wealth, enhance retirement security and avoid Ponzi schemes.
The Securities and Exchange Commission (SEC) has urged Nigerian civil servants to take advantage of opportunities in the capital market to build wealth, enhance financial security and actively participate in national economic growth.
Speaking during a strategic engagement with the Head of Service of the Federation, Didi Walson-Jack, and top officials of the service, the Director-General of the SEC, Dr. Emomotimi Agama, said the capital market should no longer be seen as distant from the everyday lives of public servants, but as a viable platform for long-term savings and investment.
Agama stressed that civil servants, beyond earning monthly salaries, must position themselves as investors and stakeholders in the economy, noting that this would improve their financial stability both during service and in retirement.
“The capital market is a platform for wealth creation and financial security. Our collective goal should be to move civil servants from being just salary earners to becoming active investors and beneficiaries of economic growth,” he said.
He explained that the Contributory Pension Scheme (CPS) already links millions of civil servants to the capital market, as pension funds are invested in government bonds, equities, infrastructure funds and other market instruments.
According to him, the performance of these investments directly affects the retirement benefits of workers.
Agama noted that a better understanding of how the capital market operates would deepen confidence in the pension system and encourage civil servants to explore additional investment options such as mutual funds, bonds, Real Estate Investment Trusts (REITs) and other regulated instruments.
To achieve this, the SEC boss proposed a structured financial literacy programme tailored specifically for the civil service, aimed at equipping workers with practical knowledge on savings, investment planning, home ownership and education funding.
“A financially literate civil service is a more stable, productive and secure workforce. Through targeted workshops, seminars and digital learning, civil servants can be empowered to make informed financial decisions,” he said.
Agama also stressed the role of the capital market in addressing housing challenges faced by public servants, noting that instruments such as REITs and mortgage-backed securities could provide more accessible pathways to home ownership if properly embraced and supported by policy.
He further called for stronger collaboration between the SEC and the civil service, including the establishment of a standing joint committee and the integration of capital market education into the training curriculum of institutions such as the Administrative Staff College of Nigeria (ASCON).
According to him, aligning the efficiency of the civil service with the innovation of the capital market would not only benefit individual workers but also strengthen investor confidence and contribute to sustainable national development.
“When civil servants understand and participate actively in the capital market, they become partners in Nigeria’s growth story, not just administrators of policy,” Agama added.
Agama also used the occasion to warn against investing in unregistered entities to avoid loss of their hard-earned funds.
He said “Many of the victims of Ponzi schemes are civil servants, this is a great challenge. We are finding solutions to problems, so as part of this collaboration, we will be happy to sensitize civil servants on Ponzi schemes and the dangers of patronising them.”
On her part, Walson-Jack expressed willingness to collaborate with the SEC to harness the potential inherent in the capital market for the benefit of the Civil Service and the nation.
She said: “We accept your proposals for training on financial education for civil servants. The civil servant commits his/her entire life to the service of the nation but goes home with very little.
“We are available to forge a strategic alliance to reverse some of these issues confronting civil servants. Your offer of training should include those exiting the system on retirement.
“Civil servants, when they retire, go home with little or nothing, but we are working to change that.
“Very soon, all civil servants will go home with gratuity. We are also trying to see how we can help civil servants get some assets like houses. Right now, very few civil servants can access funds for housing and others.
“We are interested in that and how it can be done. We want a situation where civil servants can retire with a house of their own”, she added.
