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By SEC & FLTC

BRIEF UPDATE ON INTRODUCTION OF CAPITAL MARKET STUDIES INTO SCHOOLS CURRICULA PRESENTED TO THE 1 ST QUARTER CMC MEETING HELD ON MAY 09, 2017 AT FEDERAL PALACE HOTEL, LAGOS. By SEC & FLTC. BACKGROUND.

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By SEC & FLTC

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  1. BRIEF UPDATEONINTRODUCTION OF CAPITAL MARKET STUDIES INTO SCHOOLS CURRICULA PRESENTED TO THE 1ST QUARTER CMC MEETING HELD ON MAY 09, 2017 AT FEDERAL PALACE HOTEL, LAGOS By SEC & FLTC

  2. BACKGROUND • The Securities and Exchange Commission (SEC), in 2014, developed a 10-year Capital Market Master Plan (CMMP). • One of the established initiatives of the CMMP is the introduction of Capital Market Studies (CMS) into Nigerian Schools curricula at all levels of education • Towards implementing the CMS initiative, the Securities Exchange Commission (SEC), on behalf of the Nigerian Capital Market Community, entered into collaboration with the Nigerian Education Research and Development Council (NERDC) • This Report presents a summary of the implementation progress made so far and the next steps towards the successful completion of the project.

  3. PROGRESS MADE SO FAR • A formal Memorandum of Understanding (MoU) executed between the SEC (on behalf of the entire Capital Market Community) and the NERDC, on Friday, November 18, 2016. • The MoU is to guide the early production of the stand-alone CMS curriculum that would be infused into Basic and Senior levels of education in Nigeria, in the first instance, and subsequently, to be offered as trade subject uptil tertiary level. • Identification and implementation of Pre-curriculum development activities • Development of Project Implementation Action Plan/Phases, in conjunction with the NERDC (the curriculum development experts) with expected delivery timelines; • Commencement of invitation of Stakeholders for partnership (SROs, CIS, Trade Groups, Academia, FMF, FME, CAMIC and sister Agencies such as CBN, NAICOM, PENCOM, FIRS). • Guided by NERDC, the following list of subjects were newly identified as relevant for CMS infusion:

  4. PROGRESS MADE SO FAR CONT’D • Basic Education:  1. English Studies; 2. Religion and National values (Social Studies, Civic Education); 3. Mathematics; 4. Business studies; 5. Pre vocational studies (Agricultural Science) • Senior Secondary Education 1. English Language; 2. Mathematics; 3. Civic Education; 4. Economics; 5. Accounting; 6. Commerce; 7. Agricultural Science • Successful conduct of the CONTENT SELECTION WORKSHOP (which focused, primarily, at comprehensively identifying the topics that would be suitably relevant for the development of the anticipated Stand-Alone CMS Curriculum). • The workshop was to serve as a pre-cursor to the Planning and Writing phase of the Curriculum

  5. PROJECT IMPLEMENTATION COST • The NERDC submitted an implementation cost proposal covering all the phases of the project, namely: Curriculum Development (Planning, Writing, Critique and Editorial Workshops); Curriculum Infusion (Planning, Writing, Critique and Editorial Workshops); Development of Teachers Guide (Planning, Writing, Critique and Editorial Workshops); Printing and Distribution of Infused Curriculum; Training the Trainers Workshops across the Six (6) Geo-political Zones of Nigeria; and Getting the NCE approval to offer the stand-alone CMS Curriculum as a trade subject. • The cost proposal, which mostly covered Honoraria, Transportation and Accommodation Logistics for about 30 to 44 NERDC experts (cutting cross Content Specialists, School Teachers, Teacher Educators, Policy Makers (FME) & Curriculum developers), and Printing of infused curriculum and Teachers Guides stood at about N153 million only. • Following a careful evaluation of the proposal and negotiation by the SEC, the NERDC agreed to drop the cost down to about N1113 million only,translating to a savings of about N40 million. This has been passed to the Financial Literacy Technical Committee as input for their 2017 Budget Plan.

  6. NEXT STEPS • Continuation of project implementation towards ensuring that CMS kick-starts by September, 2017 in all Basic and Senior levels of Nigerian Schools; • Immediate commencement of preparation for the Planning and Writing Workshop, which is scheduled to hold from May 22-27, 2017 at the NERDC Training Centre in Agbingbi, Lagos; • Extension of invitation to all capital market stakeholders (including FMF, FME, CAMIC, CIS, NSE, CSCS, Trade Groups, relevant Market Committees and Sister Organizations such as the CBN, NAICOM, FIRS, and PENCOM) for their participation in all the curriculum development & infusion workshops; • Soliciting of partnership funding/sponsorship support from all market stakeholders and sister organizations for the various workshops (thus far, SEC has been the main project sponsor).

  7. THANK YOU

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