Tag: Ponzi

ISA 2025: Ponzi Operators Risk 10 Year Jail Term, N20m Fine
April 2, 2025 No Responses

ISA 2025: Ponzi Operators Risk 10 Year Jail Term, N20m Fine

Promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. This is one...
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Again, SEC Urges Nigerians to Shun Ponzi Schemes
August 12, 2019 No Responses

Again, SEC Urges Nigerians to Shun Ponzi Schemes

Nigerians have again been advised to desist from investing their money in various investment schemes that are not registered to carry out fund management functions. This was stated weekend by Ag. Director General of the Securities and Exchange Commission (SEC)...
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SEC Shuts Down Dantata Ponzi Scheme
February 7, 2019 No Responses

SEC Shuts Down Dantata Ponzi Scheme

Citing  alleged illegal capital market activities, the Securities and Exchange Commission (SEC)  has sealed off the premises of Dantata Success and  Profitable Company, Kano.  According to a statement from the Commission, the company was sh...
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