FG Urges Nigerians Not to Invest in Ponzi Schemes

The Securities and Exchange Commission (SEC) has urged Nigerians not to put in money to Ponzi schemes.

SEC is the government office ordered to manage and build up the Nigerian capital market.

Acting Director-General, SEC, Ms Mary Uduk, talked on Wednesday in Port Harcourt, Rivers State, amid a town lobby meeting sorted out by SEC on flow activities by the summit capital market controller to upgrade financial specialist esteem. 

The DG clarified that the occasion was composed to shield investors and different financial specialists from fraudsters and promoters of Ponzi plans.

She stated, "The reason for existing is additionally to guarantee that you don't succumb to the tricks of fraudsters who imply to have the capacity to twofold any measure of cash you influence accessible to them as speculation to esteem.

"These fraudsters or promoters of Ponzi plans are the bogus prophets of the venture condition; they are the evil breeze that blows no great and at whose sight you should escape.

"They are to be stayed away from. This is one message you should bring home to family, companions, relations and associates keeping in mind the end goal to spare them from the misery of loss of their well deserved cash."

She, in any case, guaranteed that the recently presented e-profit administration would decrease imperatives as a rule experienced by investors.

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