Borno State-based investment firm, Stockmatch Investments Ltd, was on Tuesday shut down by the capital market regulator, the Securities and Exchange Commission (SEC).
The regulator said Stockmatch was operating illegal investments, as it didn’t have the approval from the SEC to conduct fund management activities in the country.
SEC disclosed that Stockmatch promises exorbitant rates of returns to lure investors, as a result, the regulator, by the powers under Section 13 (w) Investments and Securities Act 2007, has closed the premises of the firm.
