Nigeria’s Securities and Exchange Commission, SEC, has vowed to deal with Ponzi scheme operators and ‘bad operators’ in the country’s capital market.
Director General of SEC, Dr. Emomotimi Agama, disclosed this in his New Year message to the capital market community.
According to him, in 2025, the SEC would strengthen its regulatory framework to deal with bad eggs in the system and protect investors.
He added that the SEC in the new year would make a conscious effort to boost trust in securities transactions.
“For us, mainstreaming the Nigerian capital market into the economy is very vital.
“Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively.
“Transparency is at the heart of investor confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions,” he said.
Newspot reports that from 2023 to 2024 alone, Nigerians have lost over N92 billion to ponzi schemes and other fraudulent financial activities.
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