The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, has cautioned that a significant number of Ponzi scheme victims in Nigeria are civil servants, urging public workers to avoid unregistered investment platforms.
Agama made the remark during a strategic engagement with senior civil service officials, describing the trend as troubling. He said the commission plans to intensify sensitisation efforts to educate civil servants on the risks associated with fraudulent investment schemes.
He encouraged public servants to channel their savings into regulated capital market instruments, which he described as viable pathways for wealth creation and financial security. According to him, the broader objective is to move civil servants beyond reliance on salaries toward active participation in investment opportunities that support economic growth.
Agama pointed out that pension funds are already invested in bonds, equities and infrastructure projects, directly influencing retirement outcomes for workers. He also proposed the introduction of a structured financial literacy programme tailored to civil servants, covering areas such as savings culture, investment planning, housing finance and retirement preparation.
Head of Service of the Federation, Didi Walson-Jack, welcomed the initiative and pledged collaboration, noting that efforts are ongoing to enhance retirement benefits and improve housing access for public servants.
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