SEC urges civil servants to invest in capital markets

The Securities and Exchange Commission has urged Nigerian civil servants to embrace the capital market as a practical tool for long-term wealth creation and retirement security, warning that reliance on salaries alone leaves workers financially exposed after service.

The appeal was made during a strategic engagement between the cmmission and the Office of the Head of the Civil Service of the Federation in Abuja, according to a press statement issued by the SEC on Tuesday.

Speaking at the meeting, the SEC Director-General, Emomotimi Agama, said public servants needed to change their perception of the capital market from a distant financial space to one that directly affects their present and future well-being.

He stressed that civil servants should see themselves as participants in the economy, not just administrators of government policy, noting that active investment is key to financial stability during and after public service.

“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,” Agama said.

He explained that many public servants are already connected to the capital market through the Contributory Pension Scheme, as pension assets are invested in government bonds, equities, infrastructure funds, and other instruments, with returns determining retirement outcomes.

Agama noted that limited understanding of the market has eroded confidence in the pension system and prevented workers from exploring additional regulated investment options, such as mutual funds, bonds, and Real Estate Investment Trusts (REITs).

The SEC chief proposed a dedicated financial literacy programme for the civil service to provide practical knowledge on savings, investment planning, housing finance, 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.

He also highlighted the potential of the capital market in addressing housing challenges faced by public servants, noting that instruments such as REITs and mortgage-backed securities offer viable pathways to home ownership if supported by the right policies.

Agama called for closer institutional collaboration, including the creation of a joint standing committee and the incorporation of capital market education into training programmes of institutions such as the Administrative Staff College of Nigeria.

“When civil servants understand and participate actively in the capital market, they become partners in Nigeria’s growth story, not just administrators of policy,” he added, cautioning workers against investing in unregistered schemes.

“Many victims of Ponzi schemes are civil servants. This is a great challenge, and as part of this collaboration, we will sensitise civil servants on the dangers of patronising such schemes,” he said.

Responding, the Head of the Civil Service of the Federation, Didi Walson-Jack, welcomed the SEC’s proposals and pledged the service’s support for deeper engagement.

“We accept your proposals for training on financial education for civil servants. Civil servants commit their entire lives to the service of the nation but often go home with very little,” she said.

Walson-Jack added that efforts are underway to improve retirement outcomes, including payment of gratuities and access to housing for workers.

“Civil servants, when they retire, often leave with little or nothing, but we are working to change that. Soon, all civil servants will go home with gratuities. We are also exploring ways to ensure civil servants retire with assets, particularly houses,” she said.