SEC Reinforces Commitment to Stop Ponzi Schemes and Loss of Money
The SEC is taking its fight against Ponzi Schemes to the next level.
A new regulatory framework is one of its new strategies to cut the prevalence of perpetrators.
A New Perspective
The SEC is taking its fight against Ponzi Schemes to the next level.
A new regulatory framework is one of its new strategies to cut the prevalence of perpetrators.
The SEC is standing up against Ponzi schemes in Nigeria. It is reaching out to the unaware in marketplaces, distributing fliers and instructing investors to look carefully before a leap.
Several Ponzi Schemes have succeeded in Nigeria in recent years, and these warnings are coming later than expected. The latest of those is CBEX. The EFCC is still out to find those involved.
People are drawn to Ponzi Schemes like CBEX because of the total absence of financial literacy.
The perpetrators know exactly how to exploit this, hence, the frequent repetition.
Ponzi Scheme in Nigeria drowns millions from people who are uninformed and ignorant of the concept. The Securities and Exchange…