Shun ponzi schemes, SEC warns Nigeria




 

Nigerians have again been advised to desist from investing their money in various investment schemes that are not registered to carry out fund management functions.

This was stated weekend by Ag. Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk in the face of various unregistered schemes luring unsuspecting Nigerians with unreasonable returns. 

Uduk while enjoining investors to be wary of any investment that is proposing return levels that are unreasonably high, also advised investors to always cross check that such fund managers and the products they are offering are registered with the SEC. 

According to her, the capital market is properly positioned to attract Nigerians and  provide benefits to Nigerians who invest therein.

She said the SEC has been doing a lot in terms of investor education to assist people understand whatever issues  they have around the capital market. 

“But besides that, there are new products coming up every day in the Nigerian capital market. We have a lot of ethical funds, one of the safest areas to invest in is in Mutual Funds, Collective Investments Schemes and we encourage Nigerians to be part of these and others”.

The Ag. DG said the SEC is presently undertaking various initiatives to make the capital market more user-friendly such that people  can participate in it with greater ease, comfort and convenience. 

She said “There is the added and all-important purpose of ensuring that the gains of your participation, be these dividends, proceeds from share sales/transfers, etc. accrue to you seamlessly, without sweat and in the shortest time possible.”

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