SEC begins campaign against Ponzi schemes in markets, churches

The Securities and Exchange Commission (SEC) has begun run to sensitise citizens against investing successful Ponzi schemes.

Speaking during the workout successful Wuse Market, Abuja, connected Friday, Dr Emomotimi Agama, the Director-General of SEC, said the determination was to amended radical connected the dangers of Ponzi scheme.

Agama, who regretted that immoderate traders had fallen unfortunate to the schemes, said the sensitisation was to prosecute the radical physically.

He said the committee would instrumentality the sensitisation to markets crossed the country, churches, mosques, infirmary and barracks to scope each citizens.

“We decided to bash this due to the fact that we discovered that it is hard for radical to get the accusation that they necessitate and we sitting successful our offices and requiring them to get accusation from our website, this mightiness beryllium difficult.

“So, we needed to travel retired physically to fto them cognize the dangers of Ponzi scheme

“The traders were blessed and a batch of them person fallen victims of Ponzi strategy and they are present being enlightened.

“Ponzi strategy is simply a planetary event; we volition woody with it.

“The SEC of contiguous is coming retired to scope retired to the people, this has ne'er happened before,” helium said.

Agama appealed to the media to assistance the committee disseminate the accusation connected the dangers of Ponzi schemes.

Some of the traders who had fallen unfortunate of Ponzi strategy advised citizens to beryllium cautious of investments which promised treble returns.

Mr Abraham Onoja, a unfortunate and a trader astatine Wuse Market, said helium mislaid his 7 cardinal naira to the scheme.

“I invested N2 cardinal and aft 1 week, I was paid N2.45 million.

“I felt similar it is the existent 1 and my neighbour invested N20 cardinal and aft 7 days, they paid him N27 million.

“I now, invested N7 cardinal and the adjacent day, I heard that the radical are nary wherever to beryllium found.

“I don’t truthful overmuch judge successful wealth doubling until idiosyncratic convinced maine to bash it,” helium said.
Mr Chijioke Nnodim, besides a trader astatine Wuse Market, advised citizens to verify and ticker good earlier investing successful immoderate company.