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Nigerian regulator cautions citizens against Ponzi schemes and unreasonable investments
The SEC warned investors to be wary of any investments that are proposing return levels that are unreasonably high.
Mary Uduk, the Ag. Director General of Commission, said this during a Town Hall meeting on the current initiatives by the SEC to enhance investor value held in Port Harcourt, Rivers State.
She enjoined investors to be wary of any investments that are proposing return levels that are unreasonably high, added that they should always cross check that such fund managers and the products they are offering are registered with the SEC.
The Ag. DG told the audience that the specific objective of the meeting was to keep Nigerians abreast of the initiatives that SEC is currently undertaking in order to make the capital market more user-friendly such that people can participate in it with greater ease, comfort and convenience.
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“These fraudsters or promoters of Ponzi Schemes are the false prophets of the investment environment, they are the ill wind that blows no good and at whose sight you must flee; they are to be avoided. This is one message you must take home to family, friends, relations and acquaintances in order to save them from the agony of loss of their hard–earned money.”
Uduk also used the occasion to inform investors that SEC is currently leading the entire capital market industry in an effort to migrate all shareholders to an e –Dividend regime.
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