SEC Warns Against Unregistered Investment Schemes – Protect Your Money! ⚠️
The Securities and Exchange Commission (SEC) has issued a strong warning to investors, cautioning against engaging with several unregistered investment schemes operating illegally in Nigeria’s capital market.
Companies Under Scrutiny
In separate public notices released on Thursday, SEC flagged the following entities as unregistered and unauthorized to offer investment services:
• Promiseland Estates Limited
• Promiseland Building & Construction Limited
• UYJ Multitrade Limited (operating under the name My Share)
SEC urged the public to avoid transacting with these companies, stating that their activities pose a high risk of fraud and financial loss.
Verify Before You Invest!
To protect investors from falling victim to fraudulent schemes, SEC emphasized the importance of verifying the registration status of any investment firm before committing funds. Investors can check companies’ status on the SEC portal: www.sec.gov.ng/cmos.
Why This Matters
Nigeria has witnessed multiple investment scams over the years, with fraudulent schemes like MMM, Loom, MBA Forex, and Chinmark causing massive financial losses for unsuspecting investors. SEC’s latest warning serves as a reminder that dealing with unregistered firms could result in losing hard-earned money.
⚠️ Stay Safe, Stay Informed!
Before investing, always:
✅ Verify company registration on the SEC website
✅ Avoid offers that seem “too good to be true”
✅ Be cautious of schemes promising unrealistic returns
SEC remains committed to safeguarding Nigeria’s capital market and urges the public to remain vigilant against fraudulent investment schemes. Spread the word to protect others from falling victim!
The Securities and Exchange Commission (SEC) has issued a strong warning to investors, cautioning against engaging with several unregistered investment schemes operating illegally in Nigeria’s capital market.
Companies Under Scrutiny
In separate public notices released on Thursday, SEC flagged the following entities as unregistered and unauthorized to offer investment services:
• Promiseland Estates Limited
• Promiseland Building & Construction Limited
• UYJ Multitrade Limited (operating under the name My Share)
SEC urged the public to avoid transacting with these companies, stating that their activities pose a high risk of fraud and financial loss.
Verify Before You Invest!
To protect investors from falling victim to fraudulent schemes, SEC emphasized the importance of verifying the registration status of any investment firm before committing funds. Investors can check companies’ status on the SEC portal: www.sec.gov.ng/cmos.
Why This Matters
Nigeria has witnessed multiple investment scams over the years, with fraudulent schemes like MMM, Loom, MBA Forex, and Chinmark causing massive financial losses for unsuspecting investors. SEC’s latest warning serves as a reminder that dealing with unregistered firms could result in losing hard-earned money.
⚠️ Stay Safe, Stay Informed!
Before investing, always:
✅ Verify company registration on the SEC website
✅ Avoid offers that seem “too good to be true”
✅ Be cautious of schemes promising unrealistic returns
SEC remains committed to safeguarding Nigeria’s capital market and urges the public to remain vigilant against fraudulent investment schemes. Spread the word to protect others from falling victim!