Post Views: 273 Chairperson of the Financial Literacy Technical Committee (FLTC) of the Capital Market, Mrs. Oluwatoyin Sanni, on Tuesday assured that...
Chairperson of the Financial Literacy Technical Committee (FLTC) of the Capital Market, Mrs. Oluwatoyin Sanni, on Tuesday assured that the proposed stand-alone curriculum on Capital Market Studies, CMS, is ready for infusion into subjects in Basic and Secondary Schools in the country.
Speaking during an advocacy visit to the Chairman of the Federal Inland Revenue Service (FIRS), Fowler in Abuja, Sanni said the committee “worked tirelessly with the National Economic Research and Development Council (NERDC) to develop this curriculum.
“It is now ready and waiting to be infused into the various carrier subjects in upcoming workshops by the Council. We see this as a great step in our financial literacy work,” she stressed while commending the FIRS boss on his initiatives in enlightening students on the benefits of taxation.
She noted that when young people are comfortable with taxation at an early stage, it makes compliance as adults easier, restating the commitment of the committee and the Securities & Exchange Commission (SEC) to further educate and enlighten investors in the Nigerian capital market and in the process enhance their ability to make informed investment decisions.
According to Sanni, “this partnership with the Nigerian Educational Research and Development Council (NERDC), to actualize this groundbreaking Capital Market literacy programme, is part of the Capital Market Committee’s effort at vigorously pursuing the implementation of one of the essential initiatives of the 10-year Nigerian Capital Market Master Plan and we are delighted it is coming into fruition soon”.
“We have been in the vanguard of inculcating financial literacy for quite a long time because stakeholders in the capital market realized that it is very important for students to imbibe the culture and habit of being financial literate and to be familiar with the operations of the capital market. We seek to promote the growth of the capital market which remains an essential pillar in the development of the economy.”
She said the committee promotes financial literacy from school age people to business people adding that when people are more financially literate they will be more economically viable and tax revenues will improve.
“There is a clear alignment between the goals of the FIRS and the goals of the financial literacy Technical Committee. Coordinating, in collaboration with the SEC, the introduction of capital market studies into the curriculum of basic and secondary schools in Nigeria” she added.
Commenting, Executive Chairman of FIRS, commended the committee on its achievements and assured that the Service would continue to provide support in any way possible to promote financial literacy in the country.
“We will continue to support you within our capacity as we know that the issue of information dissemination is important in what we are doing. FIRS is always willing to partner on information dissemination which will positively impact on tax revenue in the near future” he added.
The Financial Literacy Technical Committee was constituted in 2016 as a Market-wide committee of the capital market set up by the Securities and Exchange Commission as part of the Implementation of the Ten year Capital Market Master Plan.
It is a strategy to execute some of the initiatives itemized in the Capital Market Master Plan (CMMP) 2015-2025 around increasing the level of financial literacy, especially capital market literacy, nationwide.
Photo Caption: Chairman, Federal Inland Revenue Service (FIRS), Babatunde Fowler, making a point during a meeting with the Chairperson, Financial Literacy Technical Committee of the Capital Market, Mrs. Oluwatoyin Sanni and Director, Market Development Department, Securities and Exchange Commission , Edward Okolo, in Abuja on Tuesday, May 7, 2019.