SEC Commits to Financial Education for Females as FG Unveils Plan to Empower 10 Million Women
- The Securities and Exchange Commission (SEC) has committed to providing financial education for Nigerian women
- This is to complement the federal government's plans to empower 10 million women before 2027
- The SEC DG explained how the financial literacy programs would help women build wealth
Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
The Nigerian government has set an ambitious goal – to empower 10 million Nigerian women before 2027 - as a way to accelerate the goal of making Nigeria a $1 trillion economy.
The minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, disclosed this plan at an event organized to commemorate the 2025 International Women’s Day, themed “Accelerate Action, Empowering Women Through Financial Literacy & Inclusion”.
According to the minister, achieving this would accelerate Nigeria to become a $1 trillion economy by 2030.
Source: Getty Images
She also called on stakeholders at different levels to be decisive in empowering the women around them through financial inclusion and financial literacy.
Financial literacy and inclusion for women
Speaking at the event, which was organized by the Securities and Exchange Commission (SEC) and co-sponsored by United Capital Asset Management Limited and Stanbic IBTC Asset Management, Ms. Sulaiman-Ibrahim explained that financial literacy can transform the lives of women and their children.
She noted that financially literate women can make better and informed decisions that affect their economic future and ensure financial security for their families, Leadership News reports.
Hajia Sulaiman-Ibrahim noted that women are mostly economically active, with women owning and running up to 40% of small businesses in Nigeria.
With the right financial knowledge, they can be better equipped to make saving and investment decisions, avoid financial exploitation and scams, and build wealth for their families.
The minister for women affairs also called on banks to design and improve access to financial and investment products and credit facilities tailored to women’s needs.
SEC commits to financial training for women
The SEC Director General, Dr. Emomotimi Agama, joined to celebrate the day with Nigerian women.
He commended the government’s commitment to empowering women and said that the SEC would play its role to educate women on capital market activities and protect them from exploitation.
Source: Getty Images
He noted that due to limited financial literacy, the majority of Ponzi scheme victims are women. Agama said;
“The majority of the victims of these schemes are women, and the reason is very simple - the woman’s heart is empathetic. All that she thinks about is how to help her family; how to grow the provision of her family; that is all she thinks about.”
Ponzi schemes remain a major challenge, with Nigerians losing N93.72 billion in two years.
SEC to protect Nigerians from Ponzi schemes
In related news, the Securities and Exchange Commission has pledged to step up its efforts to prevent pyramid and Ponzi schemes.
SEC DG Emomotimi Agama underlined that safeguarding investors is a crucial aspect of the Commission's work.
Agama pointed out that the SEC's 2025 agenda will place a high premium on investor trust and economic growth
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Source: Legit.ng
