The Securities and Exchange Commission (SEC) is taking significant steps to modernize the capital market education curriculum in Nigerian universities by incorporating vital topics such as cybersecurity, artificial intelligence (AI), and financial technology (fintech).
This initiative was announced by SEC’s Director General, Dr. Emomotimi Agama, during the inauguration of a committee assigned to review the curriculum for securities and investment management. This timely effort aims to equip students with essential knowledge in an increasingly digital financial landscape.
The National Universities Commission (NUC) has already approved the existing curriculum, but the SEC recognizes the need for an update to reflect contemporary trends and challenges in the capital markets. Dr. Agama stressed the urgency of this initiative, highlighting the importance of educating young people about the intricacies of the capital market. “Due to new developments in fintech, cybersecurity, artificial intelligence, and others, there is a need to expand the curriculum,” he said, emphasizing the critical role education plays in fostering a knowledgeable investor base.
The newly formed committee, chaired by Professor Uche Uwaleke of Nasarawa State University, has a comprehensive agenda. Its terms of reference include reviewing the NUC curriculum to include essential areas such as the non-interest capital market, the commodities ecosystem, the derivatives market, sustainable finance, and capital market regulations. Additionally, the committee aims to enhance the existing section on cryptocurrency to reflect current market developments, making it more relevant for students.
The committee comprises distinguished academics and industry experts, including Professors Augustine Agom, Seth Akutson, and Chuke Nwude, along with members from the SEC’s various departments. The diverse expertise of the committee members will play a crucial role in ensuring that the updated curriculum meets the evolving needs of Nigeria’s financial landscape. Dr. Agama expressed his gratitude to the committee members for their willingness to serve and contribute to this vital initiative.
Professor Uwaleke, the committee chairman, acknowledged the importance of increasing capital market literacy among Nigerians, particularly in academic institutions. He noted that the shallow retail investor base in Nigeria relative to its population underscores the need for enhanced education in this area. “By focusing on tertiary institutions, we can make a significant impact,” he stated, assuring that the committee would fulfill its objectives and enrich the capital market curriculum, ultimately contributing to the growth and sophistication of Nigeria’s financial sector.
