Nigeria’s capital market peak regulative body on Thursday warned prospective capital market financiers versus putting their funds in plans that assure baseless high returns.
Addressing regional and global financiers at a webinar in Abuja, Nigeria’s capital, Tunde Kamali, head of financier education at the Securities and Exchange Commission (SEC), stated that scammers typically attracted their financiers through deal of commissions, pressure strategies and fictitious performance history, to name a few.
Kamali contacted financiers to constantly ask, examine and validate with the commission prior to purchasing those business.
“Our duty at SEC is to protect investors by ensuring only fit and proper professionals are allowed to provide financial services,” he informed his audience.
The professional stated financiers ought to be exceptionally careful, as numerous people might use services and products utilizing phony representations and appealing high returns, such as Ponzi plans.
A Ponzi plan or video game is a type of scams that draws financiers and pays earnings to previously financiers with funds from more current financiers. The plan can go on as long as brand-new financiers are discovered, otherwise it collapses. Enditem