Ponzi schemes, cancer to capital market — SEC
Written by City Radio on August 19, 2022
The Securities and Exchange Commission (SEC) has described Ponzi scheme as “cancer” bedevilling effective operations of the capital market.
The Director-General of SEC, Mr Lamido Yuguda, said this at a post Capital Market Committee (CMC) meeting press conference in Abuja on Friday.
Yuguda said the commission had been fighting a serious war against Ponzi schemes where people without licenses extort money from unsuspected victims.
He said that the Commission had been working with other agencies to reduce access of ponzi schemes to advertising platforms.
Yuguda said the Commission would continue to enlighten the public to desist from patronising ponzi schemes.
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