Nigerian Govt shuts down investment firm over illegal activities

The Federal Government has sealed the office of Ready Finance Investors Limited for engaging in illegal investment activities.

In a statement released on Friday, the Securities and Exchange Commission, SEC, said the company’s office at AYA Memorial Plaza, Area 11, Garki, Abuja, was shut down after the firm was found to be offering financial investment services suggestive of a covert Ponzi scheme.

According to the statement, Ready Finance Investors Limited is not registered with SEC to conduct any activities in the capital market, rendering its operations illegal.

The Commission advised the public against dealing with the company, saying that any person who does that was doing so at their own risk.

“The matter is currently under the purview of law enforcement agencies for criminal investigation and subsequent prosecution.

“Other efforts by the Commission to curb the operations of illegal capital market are the amendment of its Anti Money Laundering and Countering the Financing of Terrorism Financing (AML/CFT/CPF) Regulation 2022,” the statement added.

Be the first to comment

Leave a Reply

Your email address will not be published.


*