Monday, May 13, 2019 09:05AM / By SEC
Nigeria / Header Image Credit: Oriental News Nigeria
The Securities and Exchange Commission (the Commission), pursuant to its powers under section 13(w) of the Investments and Securities Act 2007, on 6th February 2019 sealed up the business premises of Dantata Success and Profitable Company (DSPC).
The company has been involved in unlawful solicitation of funds from the public with a promise of inexplicable high returns to investors. The action taken by the Commission was with a view to protecting investors.
The Commission has granted approval for the commencement of payment to the investors of Dantata Success, which will be supervised by an Administrator approved by the Commission effective 31st May, 2019 or earlier.
The Commission further warns the public to exercise utmost caution before subscribing to investment schemes by confirming the registration status of any company or individual and the investment products they are offering before entering into any transaction with them.
Information about entities registered by the Commission to provide investment services can be found here or at any of the Commission’s offices.