The Securities and Exchange Commission (SEC) has 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.
The proposal, made by SEC Director-General Dr. Emomotimi Agama, formed part of discussions during a strategic engagement with the Head of Service of the Federation, Dame Didi Walson-Jack, and top officials of the service.
Dr. Agama said one of the nation’s top goals should be to move civil servants from being just salary earners to becoming active investors and beneficiaries of economic growth by taking advantage of opportunities for wealth creation and financial security in the capital market.
He emphasised that 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.
Civil servants, he said, must position themselves as investors and stakeholders in the economy, noting that this would improve their financial stability both during service and in retirement.
“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.
Dr. Agama explained that the Contributory Pension Scheme 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, with the performance of these investments directly affecting retirement benefits.
He added 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.
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.