SEC to include cybersecurity, AI in curriculum review

The Securities and Exchange Commission has said that it is working to expand the capital market education curriculum for Nigerian universities to include topics on cybersecurity, artificial intelligence, financial technology, and others.

The SEC’s Director General, Dr Emomotimi Agama, made this statement during the inauguration of a committee tasked with reviewing the curriculum on securities and investment management.

The National Universities Commission has already approved the curriculum for Nigerian universities and other tertiary institutions.

The committee will be chaired by a professor of Capital Market Studies at Nasarawa State University, Uche Uwaleke.

He said, “Due to new developments in fintech, cybersecurity, 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 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 disclosed that the terms of reference of the committee included: a review of the NUC curriculum on securities and investment management to include the non-interest capital market, the commodities ecosystem, the derivatives market, sustainable finance; and capital Market regulations; expanding the ‘Introduction to Cryptocurrency’ section of the NUC curriculum to reflect current developments.; and developing a standard capital market studies curriculum to be used by Nigerian universities and other tertiary institutions.

Members of the committee include 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 are Prof Oladele Akinyomi of the Mountain Top University;  Head of the Market Development Department of SEC, Mrs Ojone Kabir;  Head of Economic Research and Intelligence of SEC, Dr Hassan Suleiman and Mrs Jessica Ogwuche of the Financial Inclusion and Investor Education Department of SEC, who is the secretary of the committee.

In his remarks, the Chairman of the committee, Prof Uche Uwaleke, appreciated the management of the commission for finding members of the committee fit and trusted to carry out the 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 quizzes, 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,” he stated.

Uwaleke assured that the members would add value given their track record, saying that the objectives and terms of reference of the committee would be achieved.