Institute to support SEC on capital market studies

The Chartered Institute of Stock Brokers (CIS) has pledged to support the Securities and Exchange Commission (SEC) to infuse capital market studies into the curriculum of schools in the country.

The Acting Director -General of SEC, Ms Mary Uduk, said this in a statement issued by the Acting Head of Media of the commission, Mrs Efe Ebelo, on Sunday in Abuja.

The President of CIS, Mr Dapo Adekoje, made the pledge during a meeting between CIS and management of SEC in Abuja.

Adekoje commended the SEC on its investor education initiatives and assured that the institute was willing to support any programme that would help deepen the market.

He said: “We have visited some schools and realised that most students do not have elementary knowledge of the capital market.

“We believe that if Nigerians are aware early in life of the benefits of investing in the capital market, it will increase the percentage of participation and also help to deepen the market.”

The SEC director-general said the commission was open to any collaborative efforts that would increase financial literacy among Nigerians.

“We are making progress with Nigerian Educational Research and Development Council (NERDC) on the development of the curriculum.

“And we hope the introduction of capital market studies will start from the secondary schools up to our tertiary institutions.

“The 10-year Capital Market Master Plan requires SEC to inculcate the culture of financial literacy and specifically to introduce Capital Market Studies (CMS) into curriculum at all levels of education.

“And also to encourage CMS as a degree programme in the tertiary institutions,” Uduk said.

The apex regulator of the Nigerian capital market is developing a curriculum on capital market studies as part of the financial literacy programme.

The curriculum is geared towards boosting investment education in the country.