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The Securities and Exchange Commission, SEC, has warned entities engaging in illegal fund management activities to desist forthwith or be ready to face the law.
The Director-General of the Commission, Dr Emomotimi Agama, issued the warning in Abuja on Sunday ahead of the World Investor Week (WIW).
Agama said the Commission’s enforcement mechanisms would be fully deployed to fish out anyone perpetrating illegal activities within the investment climate of the country.
Agama said that Section 13(a) of the Investments and Securities Act 2007, gave SEC powers to regulate Investments and securities business in the country.
“What we are doing is strengthening our enforcement mechanism in collaboration with the Nigerian Police Force and the Federal Ministry of Justice.
”This serves as a notice to anyone not playing by the books to desist or face the law,” he said.
He assured investors and potential investors that SEC is prepared to protect and educate them to build confidence in the market.
SEC issues warning to illegal fund managers
