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The Securities and Exchange Commission (SEC) has called on Nigerian civil servants to take advantage of opportunities in the capital market to build wealth, improve their financial security, and take a more active role in the country’s economic growth.
The Director-General of the SEC, Dr. Emomotimi Agama, made the call during a strategic engagement with the Head of Service of the Federation, Mrs. Didi Walson-Jack, and senior civil service officials.
He said the capital market should no longer be seen as something far removed from the daily lives of public servants, but as a practical platform for long-term savings and investment.
Dr. Agama said civil servants must think beyond monthly salaries and begin to see themselves as investors and key participants in the economy, noting that this would help improve their financial stability during their working years and after 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 explained that millions of civil servants are already connected to the capital market through the Contributory Pension Scheme, as pension funds are invested in government bonds, equities, infrastructure funds, and other regulated instruments. According to him, how these investments perform has a direct impact on the retirement benefits workers eventually receive.
Dr. Agama said a better understanding of how the capital market works would strengthen trust in the pension system and also encourage civil servants to consider other investment options such as mutual funds, bonds, Real Estate Investment Trusts, and similar products approved by regulators.
To support this effort, he proposed the introduction of a structured financial literacy programme designed specifically for civil servants. He said the programme would focus on practical areas such as saving habits, investment planning, home ownership, and funding children’s education.
“A financially literate civil service is a more stable, productive, and secure workforce. Through targeted workshops, seminars, and digital learning platforms, civil servants can be equipped to make informed financial decisions,” he said.
He also spoke about the role of the capital market in helping to solve housing challenges faced by many public servants. According to him, instruments such as Real Estate Investment Trusts and mortgage-backed securities could provide more affordable and accessible paths to owning a home if properly supported by policy and embraced by workers.
Dr. Agama further called for closer cooperation between the SEC and the civil service, including the creation of a standing joint committee and the inclusion of capital market education in the training programmes of institutions such as the Administrative Staff College of Nigeria.
“When the efficiency of the civil service is aligned with the innovation of the capital market, the benefits go beyond individual workers and extend to investor confidence and sustainable national development,” he said.
He added that civil servants who understand and participate actively in the capital market become partners in Nigeria’s economic progress, rather than just administrators of government policy.
The SEC Director-General also warned civil servants against investing in unregistered schemes, saying many victims of Ponzi schemes are public servants who lose their hard-earned money.
“Many of the victims of Ponzi schemes are civil servants, and this is a serious concern. We are finding solutions, and as part of this collaboration, we will be glad to sensitise civil servants on Ponzi schemes and the dangers of patronising them,” he said.
In her response, the Head of Service of the Federation, Mrs. Didi Walson-Jack, expressed readiness to work with the SEC to unlock the benefits of the capital market for civil servants and the country as a whole.
She welcomed the proposal for financial education training, noting that many civil servants dedicate their entire working lives to public service but retire with little to show for it.
“We accept your proposals for training on financial education for civil servants. The civil servant commits his or her life to the service of the nation, but often goes home with very little. We are ready to build a strategic alliance to change some of these challenges,” she said.
Mrs. Walson-Jack added that the training programme should also cover officers preparing to exit the service, stressing the need to improve retirement outcomes.
“Civil servants, when they retire, often 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 looking at how civil servants can acquire assets such as houses. We want a situation where civil servants can retire with a house of their own,” she said.
She said collaboration with the SEC would help improve access to housing finance and long-term investments for civil servants, ultimately improving their welfare and sense of security after retirement.
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