Nigeria’s financial literacy technical committee has undertaken a sensitization campaign to women and youth in rural areas on the benefit of investing in Nigeria’s capital market.

The sensitization campaign was unveiled across five LGAs of Akko, Billiri, Dukku, Kaltungo and Yamaltu/Deba in Gombe State, during the Central Bank of Nigeria (CBN’s) ‘Digital Financial Inclusion Drive for Women and youth’ initiative.

The financial inclusion drive is an initiative of the CBN, the SEC and other stakeholders to improve access of unbanked Nigerians to financial products and services.

Speaking at Dukku town of Dukku Local Government Area Mr Tunde Isaac of SEC’s investment management department, said they joined the financial inclusion week campaign to sensitise women and youth on the importance of investing in the Nigerian capital market.

He stated that the proliferation of Ponzi schemes made it imperative for the SEC to educate the public, especially those in the rural areas on the dangers of patronising such scammers.

“Because of the presence of a lot of Ponzi schemes in the market, people will come to these people and deceive them to invest N10,000 and get N20,000 within a short period of time.

“As such, we need to enlighten them, so that they will not invest in such Ponzi schemes, thereby duped and lost their hard earn money,” Isaac said.

According to him, the easiest way to identify a Ponzi scheme is that most of them are not registered by the SEC,…

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