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The attention of the Securities and
Exchange Commission (the Commission) has been drawn to the illegal fund
management operation conducted by FAMZHI INTERBIZ LIMITED.
The Commission wishes to inform the public
that FAMZHI INTERBIZ LIMITED is not registered to
operate in the Nigerian Capital Market. The company had applied to the
Commission for registration to operate in the capital market but was unable to
fulfil certain regulatory pre-conditions required for the grant of
registration.
Despite not being registered by the
Commission, the company had proceeded to unlawfully solicit funds from the
investing public on product(s) neither registered nor approved by the Commission,
with the promise of a guaranteed return on investment in clear violation of the
Securities and Investment Act (ISA) 2007.
Consequently, the Commission has referred
the company to the appropriate law enforcement agency for criminal
investigation and possible prosecution for violation of the provisions of the
Investments and Securities Act 2007 and other relevant laws in Nigeria.
In view of the above, the general public
is ADVISED to always confirm the registration status
of any entity offering fund management or any other capital market services
from the Commission's website https://sec.gov.ng/cmos/ or
by visiting any of the Commission's offices.
Furthermore, any person who subscribes to
any product of an unregistered entity or enters into any dealing with an
entity, does so at his/her own risk.
Credits
* This post was first published on SEC Nigeria's website
on Friday, December 18, 2020.
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