The Securities and Exchange Commission (SEC) has issued a strong warning to individuals and organizations involved in illegal fund management activities, urging them to cease immediately or face significant legal repercussions.
In a statement released on Sunday in Abuja, SEC Director General Emomotimi Agama emphasized the Commission’s commitment to cracking down on illegal activities within Nigeria’s investment landscape. “Section 13(a) of the Investments and Securities Act 2007 states that the SEC has the power to regulate Investments and Securities business in Nigeria. So, within the law, we have the power to do so,” Agama noted.
He further explained that the SEC is enhancing its enforcement mechanisms 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 added.
