The Security and Exchange Commission, SEC, has vowed to crack down on Ponzi schemes in Nigeria while protecting the interest of investors. The Director of the Commission, Dr Emomotimi Agama, made this known in a statement to the capital market community, emphasising the Commission’s resolve to rid the market off illegal operators.
In the statement, Agama said “The Securities and Exchange Commission has emphasised that protecting investors remains a cornerstone of its mission assuring that the commission will intensify efforts to stamp out Ponzi and pyramid schemes while paving the way for legitimate investment opportunities to thrive in 2025.”
Speaking further, Agama expressed optimism about the investment opportunities in the New Year, noting that the Commission’s 2025 agenda is to prioritise market integrity, investors’ confidence and economic growth for the country.
Also, Agama reaffirmed the SEC’s commitment to regulating and developing the Nigerian capital market, noting that 2025 is the year to achieve a full integration of the market into the broader economy. He said a key focus of the regulation will be a major clamp down on Ponzi schemes defrauding investors of their hard earned money.
Looking ahead, Agama emphasised the SEC’s commitment to building a more inclusive capital market in 2025.
He called on stakeholders to collaborate with the Commission to achieve its vision of wealth creation, enhanced confidence, and economic development.
