The Securities and Exchange Commission (SEC) has urged Nigerian civil servants to actively participate in the capital market as a means of long-term wealth creation and retirement security, warning that reliance on salaries alone leaves workers financially vulnerable.
The appeal was made during a strategic engagement between the SEC and the Office of the Head of the Civil Service of the Federation in Abuja, according to a statement issued by the commission on Tuesday.
Speaking at the meeting, SEC Director-General Emomotimi Agama said public servants should view the capital market as a practical tool that directly impacts their present and future well-being, rather than a distant financial space. He stressed that active investment is key to financial stability both during and after public service.
“The capital market is a platform for wealth creation and financial security. Our goal should be to move civil servants from being just salary earners to becoming active investors and beneficiaries of economic growth,” Agama said.
He noted that many civil servants are already connected to the capital market through the Contributory Pension Scheme, where pension assets are invested in government bonds, equities, infrastructure funds, and other instruments, with returns determining retirement outcomes.
Agama expressed concern 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). He proposed a dedicated financial literacy programme for civil servants, including practical training on savings, investment planning, housing finance, and education funding.
READ ALSO: SEC Raises Minimum Capital For Market Operators In Major Overhaul
He also highlighted the potential of the capital market to address housing challenges, noting that REITs and mortgage-backed securities offer viable pathways to home ownership if supported by appropriate policies. Agama called for closer institutional collaboration, including a joint standing committee and the incorporation of capital market education into training programmes at institutions such as the Administrative Staff College of Nigeria.
The SEC chief cautioned civil servants against investing in unregistered schemes, noting that many victims of Ponzi schemes are government workers.
Responding, Head of the Civil Service of the Federation Didi Walson-Jack welcomed the proposals and pledged the service’s support for deeper engagement. She said efforts are underway to improve retirement outcomes, including payment of gratuities and access to housing, ensuring that civil servants retire with tangible assets.