The Securities and Exchange Commission (SEC) Dr Emomotimi Agama has advocated for the need to educate and empower women to make informed decisions and create wealth in the capital market.

He made the call at an event to mark the International Women’s Day (IWD) celebration organised by the commission in Abuja .

Agama said that victims of Ponzi schemes in the country were mostly women.

According to him,” women make up the commodities market. We want to make sure that we provide an avenue and a platform where they can sell their produce after producing them.

”I also want to speak about the vulnerabilities of women. Most of the Ponzi schemes that we have in Nigeria, the majority of the victims are women.

”And the reason is very simple, the woman’s heart is very empathic, all that she thinks about is how to resonate her family, help her family, and grow the provisions of her family.

”We must re-empower the women, re-educate them, and we must bring them to the fore of national recognition when it comes to the capital market.”

In the same vein, the Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, charged women to make their impact count through display of excellence.

The minister commended the SEC for financial literacy to the women on finance investment, saying it would help them make better investment decisions.

Sulaiman-Ibrahim said that the programme would also equip them with sound financial knowledge on savings, investments, and wealth creation.

She added that it would provide access to secure financial products tailored to women’s needs and strengthen protections against financial exploitation, particularly through Ponzi schemes and fraudulent investment platforms.

In a lecture, Mrs Hafsat Rufai, the Director, Registration, Exchanges and Market Infrastructure, SEC, said that the capital market played pivotal role in economic development.

She listed some benefits of investing in the capital market to include wealth creation, dividend income, liquidity and tax benefits.

The director called on women to verify and ensure that investment companies were registered by the SEC before patronising them.

Similarly, Mrs Hansatu Adegbite, Chairperson, Association of Nigerian Business Women Network, commended SEC for the financial literacy initiative for women.

”Where poverty prevails, we need to create wealth. One place that women do not look at is the capital market. We need some of these lectures to educate more women.

”Women need to look inward to invest; you must multiply your money. It is time to arise and educate ourselves and take actions,” she said

The federal government has reaffirmed its commitment to gender-inclusive tax reforms, highlighting the need for a fairer financial system to enhance revenue generation and economic development.

Speaking in Abuja at the launch of IBP Nigeria’s Strategy and Gender Research Findings, Minister of Budget and Economic Planning Abubakar Atiku Bagudu underscored the role of women’s advocacy groups in shaping budgetary decisions.

The former Governor of Kebbi State defended recent policy changes, such as the removal of subsidies and the simplification of tax systems, arguing that these measures would expand the tax base and improve revenue collection.

He also addressed the financial barriers women face, noting that systemic challenges often prevent them from accessing capital and fully participating in economic activities.

The IBP report called on governments at all levels to modernise tax collection through electronic payments and transparent processes, reducing inefficiencies and preventing exploitation.

It also recommended tax harmonisation to eliminate arbitrary levies.

A key focus of the report was the importance of raising public awareness about tax obligations and benefits, particularly among informal sector business owners, many of whom are women.

The report urged targeted campaigns using local media and community outreach to improve tax compliance.

Additionally, the report advocated for greater financial inclusion, recommending support for women’s access to microloans and savings programmes to empower female entrepreneurs and foster business growth.

It also called for grievance redress mechanisms tailored to the informal sector, with accessible reporting channels and gender-sensitive training for tax officials.

IBP Nigeria’s Country Manager, Yinka Babalola, stressed the organisation’s commitment to ensuring that public budgets work for all, particularly marginalised groups.

“We are looking at the entire process of raising and spending public resources, which we call the public resource governance system,” she said.

“It extends beyond traditional financial management to include the role of private sector operators, legislative bodies, and auditors in ensuring accountability.”

Norwegian Ambassador to Nigeria, Svein Baera, expressed his country’s support for IBP’s research on gender and taxation, emphasising that public money belongs to the people and that civil society plays a crucial role in advocating for financial transparency and equality.

“Gender equality is central to achieving sustainable development goals,” he stated.

“Women’s voice, power, and agency must be strengthened at all levels, from households to governments, to ensure meaningful change.”

Baera praised IBP Nigeria’s locally led initiatives, highlighting the importance of community-driven approaches in tackling systemic financial inequalities.