Tag: SEC

SEC Warns Nigerians Against Investing in PWAN MAX The Securities and Exchange Commission (SEC) has warned Nigerians against investing in “Property World Africa Network” (PWAN), saying the entity is not registered to solicit funds from the public. In a statement signed by the management on Tuesday,...

EFCC Traces CBEX Stolen Funds to Four Countries, Says Full Recovery Impossible  The Economic and Financial Crimes Commission (EFCC) said it has traced funds linked to the failed crypto bridge exchange (CBEX) scheme to at least four countries. Speaking on a Channels Television programme on Wednesday...

Crypto: SEC Warns Against Suspected TOFRO Ponzi Scheme The Securities and Exchange Commission (SEC) has issued a public warning about TOFRO.COM (Tofro), an unregistered cryptocurrency trading platform. SEC said the platform exhibited characteristics of a fraudulent Ponzi scheme. The notice cautioned Nigerians against falling for deceptive investment...

The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted over the alleged investment fraud perpetrated on Crypto Bridge Exchange (CBEX), a trading platform.

On April 15, CBEX—another in the long, dreadful line of Ponzi schemes—folded, sending shockwaves through Nigeria’s fragile financial landscape.

EFCC, SEC Partner to Shut Down Ponzi Schemes  The Economic and Financial Crimes Commission and the Securities and Exchange Commission have vowed to hunt down operators of Ponzi schemes nationwide. The Federal Government agencies declared this on Wednesday following the collapse of the digital assets platform,...