Securities and Exchange Commission (SEC) and National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to establish a Community Development Service (CDS) group focused on investment education for corps members.

The initiative is designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.

According to a statement issued by SEC on Sunday, the MoU was recently signed by the Director-General of SEC, Dr Emomotimi Agama and the Director-General of NYSC, Brig.-Gen. Olakunle Nafiu. It was also meant to promote financial literacy and sound investment habits among young Nigerians.

In addition, the collaboration will help in equipping corps members with essential knowledge and skills to identify and avoid Ponzi schemes and other illegal investment practices.