The Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investments scheme to the commission for proper investigation and necessary action.
The commission said this in a notice issued on Thursday to the investing public with a warning that ponzi investment schemes posed great danger to the growth of the capital market.
In its latest advisory, coming against the backdrop of the CBEX saga, SEC warned the public about the growing threats and risks posed by Ponzi schemes, illegal investment operations, and unregistered digital assets platforms.
It explained that fraudulent entities and individuals have continued to exploit unsuspecting investors through deceptive promises of high returns, often leveraging the allure of digital assets to create an erroneous perception of legitimacy.
“The public is strongly advised to be wary of investment opportunities that promise guaranteed or unusually high returns with little or no risk.“
These include unregistered platforms offering cryptocurrency investments, forex trading, or blockchain-based schemes, without subjecting themselves to the prescribed processes for obtaining the prior approval of the SEC. (Thisday)