405
By Daniel Adaji
The Securities and Exchange Commission (SEC) has urged Nigerian civil servants to embrace the capital market as a pathway to wealth creation, financial security and sustainable retirement planning.
The call was made on Tuesday during a strategic engagement with the Head of the Civil Service of the Federation, Didi Walson-Jack, and senior officials, where the Director-General of the SEC, Dr. Emomotimi Agama, stressed that the capital market should no longer be viewed as distant from the daily lives of public servants.
Agama said civil servants must go beyond earning monthly salaries and position themselves as investors and stakeholders in the economy to improve their financial stability during active service and 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 noted that the Contributory
Pension Scheme (CPS) already connects millions of civil servants to the capital market, as pension funds are invested in government bonds, equities, infrastructure funds and other instruments, noting that the performance of such investments directly affects workers’ retirement benefits.
According to Agama, improved understanding of the capital market would deepen confidence in the pension system and encourage civil servants to explore additional regulated investment options such as mutual funds, bonds and Real Estate Investment Trusts (REITs).
To strengthen participation, the SEC boss proposed a structured financial literacy programme tailored to the civil service, focusing 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 highlighted 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 routes to home ownership if properly supported.
He called for stronger collaboration between the SEC and the civil service, including the creation of a standing joint committee and the integration of capital market education into training programmes at institutions such as the Administrative Staff College of Nigeria (ASCON).
“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.
He also warned civil servants against investing in unregistered entities, noting the risks associated with Ponzi schemes.
“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 patronizing them,” he said.
In her response, the Head of the Civil Service of the Federation, Didi Walson-Jack, expressed readiness to collaborate with the SEC to harness capital market opportunities for the benefit of civil servants and the nation.
“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,” she said.
Walson-Jack added: “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.”