Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), has set up a committee to review curriculum already approved by the National Universities Commission (NUC) on securities and investment management for Nigerian universities and other tertiary institutions.
The review is to align the curriculum to include emerging trends like cyber security, artificial intelligence and advanced crypto among others in line with current market trends.
Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, at the inauguration of the review committee, said the initiative which has been ongoing remains a priority to the commission as part of its efforts to equip future professionals with relevant capital market knowledge and skills.
“Due to new development in fintech, cyber security, Artificial Intelligence and others, there is a need to expand the curriculum to accommodate the new trends. It is an important time and we want to latch in to be able to teach Nigerians, especially the young people about the capital market. In the light of this, the Commission has set up a Committee to review and enrich the existing curriculum to reflect these advancements.
“It is sad that people do not have a full grasp of capital market issues, we must do everything to share knowledge and educate people. We want to be the best capital market among nations and that can only be possible due to the superiority of our knowledge. You are well placed to do this being in the ivory towers and i thank you for accepting to serve as we look forward to a robust discussion,” Agama said.
He outlined the terms of reference of the committee headed by Professor Uche Uwaleke, a Professor of Capital Market Studies at Nasarawa State University, Keffi, to include review of the NUC curriculum on securities and investment management to include non-interest capital market (NICM); the commodities ecosystem; financial derivatives market; sustainable finance, and capital market regulations; expand the “introduction to cryptocurrency” section of the NUC curriculum to reflect current developments.; and develop a standard capital market studies curriculum to be a d o p t e d by Nigerian universities and other tertiary institutions.
Members of the committee included Prof Augustine Agom of the Ahmadu Bello University, Prof Seth Akutson of the Kaduna State University, Prof Chuke Nwude of the University of Nigeria, Nsukka and Dr Akeem Oyewole of Marble Capital Ltd.
Others were Prof Oladele John Akinyomi of the Mountain Top University, Mrs Ojone Kabir, Head of Market Development Department of SEC, Dr Hassan Suleiman, Head of Economic Research and Intelligence of SEC and Mrs Jessica Ogwuche of the Financial Inclusion and Investor Education Department of SEC who is the secretary of the committee.
Uwaleke expressed appreciation to the commission for finding them fit and trusted to carry out the assignment saying that they consider it a national assignment.
“We know that part of our challenge is because our retail investor base is shallow in relation to our population and one way to change the narrative is through capital market literacy.
We as lecturers can attest to the fact that capital market literacy within the academic environment is low and I think tackling that is one low hanging fruit.
“I am aware that the DG and others have been trying to increase the level of awareness with various programmes like quiz, essays, investor clinics and others, but for us to make more impact, we need to focus on tertiary institutions and that is why I think what we are doing is very crucial,” Uwaleke said.
He assured that the members will add value given their track record, saying that the objectives and terms of reference of the committee would be achieved