The Securities and Exchange Commission has restated its commitment to the protection of investors in the Nigerian capital market from fraudsters.

A statement from the SEC, on Tuesday, said the capital market regulator had adopted several strategies to achieve this goal.

According to the statement, one of the steps the SEC has taken is a partnership with the Nigerian film industry to produce films aimed at exposing investors to some of the tricks used by scammers.

Under the partnership, the SEC has sponsored the production of two films, the statement added.  It explained that one of the films was a full-length movie produced by filmmaker KunleAfolayan entitled Breeze, while the other, Easy Money, was a short film produced by Homevida.

Through both films, the SEC said it aimed to use creative drama to teach viewers lessons in personal finance management.

The Director-General, the SEC, Ms. Arunma Oteh, was quoted as saying this in a goodwill message delivered during the 10th Anniversary of the Abuja International Film Festival.

According to Oteh, the SEC has a mandate to educate and protect investors in the capital markets and devotes resources to developing and regulating a world class capital market that will play its critical role in supplying long-term capital for Nigerians to fund their businesses, create jobs and democratise prosperity.

She added, “The SEC recognises that this mandate will be effectively discharged if the Commission leverages on the significant reach, followership and traction which Nollywood has among Nigerians. Our partnership with Nollywood is fruitful and will be sustained in order to achieve our common objectives.

Oteh explained that it was the need for Nigerians to be protected “against unscrupulous operators who run schemes to defraud innocent investors of their hard-earned money,” that informed the SEC’s partnership with Homevida to produce Easy Money, “which informs investors about the activities of such scammers.”

The SEC director-general was said to have praised its partnership with the Nigerian film industry, describing it as a unique contribution to the global heritage of financial inclusion.

She said, “Nollywood, through partnership with the SEC, has adapted its rich resource of creativity to the cause of expanding financial literacy in our society. Through sights, sounds, lights, pictures and motions, Nigeria is creatively using film to expand awareness and understanding among its citizenry.”

Source: Punch (by Simon Ejembi)