The Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investment schemes to the commission for proper investigation and necessary action.
In a notice issued yesterday, the SEC warned the investing public about the significant dangers posed by Ponzi investment schemes, which threaten the growth of the capital market.
In its latest advisory, the commission highlighted the increasing risks associated with Ponzi schemes, illegal investment operations, and unregistered digital asset platforms.
“The public is strongly advised to be cautious of investment opportunities that promise guaranteed or unusually high returns with little or no risk. This includes unregistered platforms offering cryptocurrency investments, forex trading, or blockchain-based schemes that have not gone through the required processes for obtaining prior approval from the SEC,” it stated
