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SEC cautions potential investors against `high returns’ fraud schemes
SEC gave the advice at a webinar meeting with title `The ABC of Savings and Investment in Abuja’.
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The Securities and Exchange Commission (SEC) has cautioned potential capital market investors against putting their monies in fraud schemes that promise unwarranted high returns.
Tunde Kamali, the Head, Investor Education of the Securities and Exchange Commission (SEC), gave the advice at a webinar meeting with title `The ABC of Savings and Investment in Abuja’.
Mr Kamali expressed regrets that fraudsters usually attracted their investors through offers of commissions, pressure tactics, and fictitious track records, among others.
The Federal Government is scheduled to meet with telecommunications operators and other key stakeholders in the sector over the recent court judgement which stopped the government from going on with its earlier plan to disconnect SIM cards not linked to National Identity Numbers (NIN) by April 6.
The meeting which is planned to hold before the expiration of the deadline is to consider the recent court ruling and look at available options.
According to a report, officials of the Federal Ministry of Communications and Digital Economy and operators in the telecommunications sector confirmed that the government was making progress with the NIN enrollments and its linking to SIM cards.