The Securities and Exchange Commission (SEC) has intensified its efforts to combat Ponzi schemes in Nigeria, pledging to take strong action against illegal fund operators while also educating the public to prevent further collapses of fraudulent investment schemes. During an awareness campaign at the Dei-Dei Building Materials Market in Abuja, the SEC highlighted its commitment…
By Ajibola Olarinoye Nigeria has become a prime target for Ponzi schemes, resulting in millions of unsuspecting investors losing their life savings in a cycle of financial deceit and broken promises. From digital platforms to agriculture-based investments, these fraudulent schemes continue to exploit the desire for quick returns, particularly in a country facing significant economic…
The Securities and Exchange Commission (SEC) has urged Capital Market Operators (CMOs) to renew their registrations by January 31, 2025. A circular from the commission outlines that the annual registration renewal period will run from January 1 to January 31, 2025. This initiative is designed to ensure that only qualified individuals operate within the Nigerian…
President Bola Tinubu has appointed new boards and managements for the country’s apex capital market regulator, Securities and Exchange Commission (SEC) and the insurance sector regulator, National Insurance Commission (NAICOM). The new board and management of SEC included Mr. Mairiga Katuka, Chairman; Mr. Emomotimi Agama, Director-General; Frana Chukwuogor, Executive Commissioner, Legal and Enforcement; Mr. Bola…
