SEC Notifies of Activities Of Unlawful Market Operators

Proshare

Friday, March 27, 2020 /10:01 AM / by SEC Nigeria / Header Image Credit: SEC Nigeria


The Securities and Exchange Commission wish to draw the attention of the investing public to the activities of unlawful/unlicensed market operators and promoters of other fraudulent schemes.


The Commission, in recent time, has observed the proliferation of the operation of unlawful/unlicensed investment schemes, with promises of huge, but unjustifiable returns on investment. These activities are perpetrated by suspected promoters of Ponzi and other fraudulent schemes under the following identities:

  1. Loom Nigeria Money
  2. Box Value Trading Company Ltd
  3. Now-Now Alert
  4. Flip Cash Investment
  5. Result Investment Nigeria Limited
  6. Helping Hand and Investment
  7. No Failure Development and Empowerment Nig. Ltd
  8. MBA Forex and Investment Ltd
  9. Federate Investors Trading Company
  10. Jamalife Helpers Global Ltd
  11. Flexus Global Solutions and Investment Ltd
  12. United Capital Investment Company Limited


Members of the public are to note that by virtue of the provisions of Section 38(1) of the Investments and Securities Act (ISA) 2007, only persons registered with the Commission can engage in capital market activities, thus making the actions of these entities listed above unlawful.


Consequently, the general public is hereby advised to refrain from investing in any scheme of the entities listed above, and WARNS that any person who invests in an unlicensed/unlawful scheme does so at his own peril.


Proshare Nigeria Pvt. Ltd.


Related News

  1. Securities Regulators Coordinate Responses to COVID-19 through IOSCO
  2. SEC Issues Circular to All CMOs and Stakeholders on Post-Approval Amendments
  3. SEC Nigeria Issues Advisory On COVID-19
  4. FDIC Approves the Deposit Insurance Application for Square Financial Services Inc
  5. NSE Proposes Amendments to Rules on Related Parties, Closed Periods and KYC
  6. SEC Directs Brokers to Capture New Clients and Update Existing Clients Information
  7. NSE Issues Interpretative Guidance on the Index Circuit Breakers' Rule
  8. SEC Nigeria Notifies of Ban on Six (6) Online Brokers By Italian Financial Authorities
  9. CBN New Directive on Cashless Policy Takes Effect from April 1st 2020
  10. CBN Issues Clarification on the Operations of Ordinary Domiciliary Accounts
  11. CBN: Initial Thought On Domiciliary Accounts

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP