The Nigerian Change Restricted (NGX) has issued a public advisory relating to a suspected impersonator falsely claiming to be the Chief Strategist of NGX Group.
In a press release posted on its X deal with on Monday, NGX warned the general public about a person named ‘Professor Adebayo Oluwatokun’ and an entity known as ‘Worth Achieve,’ who’re allegedly utilizing a WhatsApp group titled ‘NGX GroupA7’ to deceive the general public.
“Our consideration has been drawn to the actions of fraudulent entities, together with one working beneath the identify “Worth Achieve” and an individual falsely recognized as “Professor Adebayo Oluwatokun.
” These people are impersonating NGX through a WhatsApp group named “NGX GroupA7” to mislead the general public.
“Neither ‘Worth Achieve’ nor the stated particular person is affiliated with NGX, its subsidiaries, or registered Buying and selling License Holders. Any claims or communications from them are false and fraudulent,” said NGX.
NGX emphasised its dedication to defending buyers and sustaining belief within the Nigerian capital market. The general public is urged to keep away from participating with these entities and to report any suspicious actions promptly.
Considerations have been raised in regards to the rising incidence of fraud and infractions within the Nigerian capital market, allegedly perpetrated by stockbrokers and dealing member corporations. This case has been attributed to the failure of some stockbroking corporations to adjust to the Know Your Consumer (KYC) necessities.
Temi Popoola, Group Chief Govt Officer of Nigerian Change Group Plc (NGX Group), final week highlighted the need for stronger regional collaboration, government-private sector synergy, and revolutionary market options to unlock the continent’s {economic} potential.
“With the right combination of innovation, coverage help, and regional collaboration, Ethiopia’s capital market can play a transformative position in driving {economic} improvement and set up itself as a frontrunner in Africa’s {financial} ecosystem,” he remarked.
Popoola additional elaborated on NGX Group’s funding rationale, highlighting Ethiopia’s huge market potential and the shared imaginative and prescient of fostering {economic} progress by means of innovation. “Our partnership transcends conventional funding parameters. It’s about guaranteeing that ESX evolves right into a key participant in Africa’s {financial} ecosystem, enabling cross-border investments and setting benchmarks for market improvement,” he stated.
He additionally underscored the significance of opening up the African market, emphasizing that it could assist entice extra capital.
