Author:The Securities and Exchange Commission says it will work towards infusing capital market studies into secondary schools’ curriculum in theLamido Yuguda, director general, SEC, said this at the inaugural conference of Oriental News Nigeria, themed ‘Engaging with Critical Groups to Develop Effective Financial Inclusion Initiative’, which was held in Lagos.
According to Yuguda, financial inclusion is achieved when individuals and businesses have access to affordable financial products and services, which must meet the needs of individuals and businesses and must be delivered sustainably.“Achieving financial inclusion involves the coming together of multiple stakeholders, from federal government, policy makers, regulators to private industries, including employers, educational systems, communities and individuals,” Yuguda said.
“In order to reach the 95% financial inclusion target, we must first and foremost recognise the imperative for prioritising financial literacy at all levels, the importance of innovation and the need to create an enabling environment to promote financial inclusion.”The SEC boss said with the help of the fast-growing fintech penetration in the economy and financial systems, more Nigerians would be captured and be more protected to effectively navigate the country’s financial systems.
Yuguda said the commission has created new standards and rules for registration and operations of fintech firms to ensure compliance with global standards and adequate protection of investments.