The director-general of the Securities and Trade Fee (SEC), Emomotimi Agama, has warned Nigerians to watch out for on-line platforms promising unrealistic {financial} returns.
Agama said this on Channels Tv’s Enterprise Morning, emphasising the importance of verifying the legitimacy of funding schemes.
He highlighted that registration with the SEC serves as a vital indicator of a platform’s credibility, saying “if a proposal appears too good to be true, it’s important to research additional.”
He urged Nigerians to make sure that any funding agency just isn’t solely registered with the Company Affairs Fee however can be licensed by the SEC.
Agama identified that “quite a few fraudulent schemes have emerged, attractive people with the lure of extreme income. To counter this, the SEC has proactively issued over 85 advisories to tell the general public about these unlawful operators.”
He referenced Part 3(a) of the Funding and Securities Act 2025, which grants the SEC the authority to supervise companies inside Nigeria’s capital market.
He inspired Nigerians to utilise the SEC’s workplaces and forthcoming digital platforms to confirm the standing of funding companies earlier than making any selections.
“It is very important scrutinise guarantees that seem implausible; these can typically point out fraud. We urge the general public to ask questions and interact with us to substantiate legitimacy,” he said.
Will probably be recalled that the {Economic} and {Financial} Crimes Fee (EFCC) has recognized 58 unregistered Ponzi scheme operators, together with Wales Kingdom Capital, MBA Buying and selling & Capital Funding Restricted, Ovaioza Farm Produce Storage Restricted, and Chinmark Houses.
