Abstract:MBA Capital and Trading Limited is not a registered capital market operator with the Securities and Exchange Commission of Nigeria (SEC). This was stated in a statement signed by the SEC's management.
Nigerias Securities and Exchange Commission (SEC) has said that MBA Capital and Trading Limited is not a registered capital market operator with the Commission.
This was contained in a statement signed by the Management of the SEC.
According to the SEC, “The attention of the Securities and Exchange Commission (the Commission) has been drawn to a publication in one of the National Daily Newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading Limited, Misan Sagay reportedly stated that he had verified ”on-line and ascertained that the company was registered with the Commission.
Read Also: Nigerias SEC takes over leadership of West Africa Securities Regulators Association
The Commission wishes to inform the general public that MBA Capital and Trading Limited has never been registered by the Commission. The Commission also uses this medium to remind the general public that by virtue of Section 38 (1) of the Investments and Securities Act (ISA) 2007, only persons and institutions registered with the Commission are permitted to engage in capital market activities.
The Commission, therefore, enjoins the investing public to seek clarification as may be required via its established channels of communication on investment products advertised through conventional or online mediums. A list of registered capital market operators is available on the Commissions website.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The SEC cautions the public about TRADE 13.0 SERAX, an unlicensed investment platform using fake endorsements that solicits funds illegally in the Philippines.
eToro, the online brokerage platform, has unveiled its latest innovation: the Onfido Selfie Motion biometric authentication feature.
Fintech start-up Midas has achieved a significant milestone by raising $45 million in equity funding, marking the largest Series A fundraising by a Turkish fintech firm, and the second largest across sectors.
eToro collaborates with 21Shares to introduce a dynamic, data-driven crypto investment portfolio for retail investors.