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Tolu Adedokun
3 weeks ago
Overview
Do not invest in Risevest and Stecs , SEC warns
The Securities and Exchange Commission (SEC) has issued a warning to the public, advising against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperative Society, commonly known as Stecs.
In a circular released over the weekend in Abuja, the SEC stated that neither Risevest nor Stecs is registered or authorised to operate in Nigeria’s capital market. According to the Commission in a press statement on Sunday, both entities are involved in unapproved investment schemes targeting unsuspecting members of the public.
SEC further reiterated that transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to the risk of fraud and potential loss of investment.
“The SEC remains committed to the protection of investors in the Nigerian capital market and is working diligently to combat the activities of illegal/unregistered entities.
“For inquiries or to verify the registration status of entities offering investment opportunities in the Nigerian capital market, please contact the Commission through the following channels:
Phone: +2342094621168-9, Email: [email protected] and Website: https://sec.gov.ng/cmos/ “, the SEC added.
