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Nairaland Forum / Nairaland / General / Investment / Avoid Ponzi Schemes! SEC Warns Nigerians (35236 Views)
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Avoid Ponzi Schemes! SEC Warns Nigerians by Bilaludeen(m): 7:06pm On Jul 18, 2018 |
Nigeria stock exchange NIGERIANS have again been advised to desist from investing their money in investments that offer unreasonable levels of returns at little risk to investors. This was stated by Ag. Director General of the Securities and Exchange Commission (SEC) Ms Mary Uduk during a Town Hall meeting on Current Initiatives by the SEC Nigeria to enhance investor value held in Port Harcourt, Rivers State, Wednesday. In a statement by the Commission, Uduk, while enjoining investors to be wary of any investment that is proposing return levels that are unreasonably high, added that they should always cross check that such fund managers and the products they are offering are registered with the SEC. The Ag. DG told the audience that the specific objective of the meeting is to keep Nigerians abreast of the initiatives that SEC is currently undertaking in order to make the capital market more user friendly such that people can participate in it with greater ease, comfort and convenience. “There is the added and all-important purpose of ensuring that the gains of your participation, be these dividends, proceeds from share sales/transfers, etc. accrue to you seamlessly, without sweat and in the shortest time possible. The purpose is also to ensure that you do not fall victim to the antics of fraudsters who purport to be able to double any amount of money you make available to them as investment value. “These fraudsters or promoters of Ponzi Schemes are the false prophets of the investment environment, they are the ill wind that blows no good and at whose sight you must flee; they are to be avoided. This is one message you must take home to family, friends, relations and acquaintances in order to save them from the agony of loss of their hard–earned money” she stated. Uduk also used the occasion to inform investors that SEC is currently leading the entire capital market industry in an effort to migrate all shareholders to an e –Dividend regime. The essence of the e-Dividend Mandate Management System she said, is to eradicate or reduce to the barest minimum the incidence of unclaimed dividend. “Unclaimed dividend is an undesirable feature of the Nigerian capital market which denies investors/shareholders the gains of participating in the capital market. It denies the economy access to the huge amount of money which should have accrued to shareholders and would have gone into circulation to oil the wheel of the economy. “It is a consequence of the bottlenecks which are inherent in the erstwhile paper dividend warrant regime such as postal system inefficiency, change in investors’ addresses, poor fidelity and human fallibility in dividend payment processes, amongst others. Uduk stated that the e-Dividend regime bypasses these limitations by ensuring that dividends which do not exceed 12 years of issue are credited directly to an investors account after the declaration by the paying company and within a stipulated payment period through simple interbank transfer. Recall that the e-Dividend registration exercise started on November 23, 2016. Each successful registration cost N150, however, between that time and March 31, 2018, the Commission underwrote the registration cost for all investors that mandated. Other initiatives by the SEC according to Uduk include, Direct Cash Settlement, dematerialisation, National Investor Protection Fund, Recapitalisation of capital market operators, corporate governance scorecard, new rules for products innovation, development of commodity exchange, Collective Investment Schemes among others. In his remarks, Head of Port Harcourt Zonal office of SEC, Mr Obi Adindu said the SEC is interested in making the capital market stronger and better and a means of creating wealth for Nigerians. “We are here to get your views on our initiatives and policies so that we can fine tune them where necessary in a bid to ensure that your investments are well protected in the capital market” Adindu added. http://surecontents..com/2018/07/avoid-ponzi-schemes-sec-warns-nigerians.html 3 Likes 1 Share
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Re: Avoid Ponzi Schemes! SEC Warns Nigerians by MANNABBQGRILLS: 7:08pm On Jul 18, 2018 |
Hope they listen. If they still see another one called W.W.W promising one week payment, they will still rush into it. Rugged Nigerians! 40 Likes 5 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by dominique(f): 7:11pm On Jul 18, 2018 |
I'm also starting to notice a recent low-key return of the ponzi schemes. They're packaged differently now and the organizers will insist that it not a ponzi but an investment. People should better shine their eyes, there is no easy money anywhere 68 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Benblaq(m): 7:27pm On Jul 18, 2018 |
NLders there's this one that you'll put 100k and in two weeks you'll get 500k.. pls don't insult me i'm having chest pain in my head oh. 77 Likes 4 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Nobody: 7:27pm On Jul 18, 2018 |
MMM ooooooooo . Them show man pikin pepper.... Na so money just vamoosse like dat. Diaris God oooo 36 Likes 4 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by alphaconde(m): 7:27pm On Jul 18, 2018 |
No need to warn anybody, Meanwhile we also need to avoid apc mmm was one of their achievement 14 Likes 3 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by slawomir: 7:27pm On Jul 18, 2018 |
Them dey hear word |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by obafemee80(m): 7:27pm On Jul 18, 2018 |
Ponzi Kills... 5 Likes 1 Share |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by FarahAideed: 7:28pm On Jul 18, 2018 |
They will not hear oo |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by obojememe: 7:28pm On Jul 18, 2018 |
that was how mmm chop my 70k... my total nysc savings after my service year... i suffer wen i got back home 25 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Nobody: 7:28pm On Jul 18, 2018 |
Thunder fire MMM 16 Likes 1 Share |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by 3millionia: 7:28pm On Jul 18, 2018 |
MMM oooo my money 6 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Dandsome: 7:28pm On Jul 18, 2018 |
Experience they say is the best teacher. Those who got their finger burnt last time would surely flee. It's the stubborn fly that usually follows the corpse to the grave. Well, wetin concern me? After all Even this present government is a special kind of ponzi scheme 24 Likes 1 Share |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Sanchase: 7:28pm On Jul 18, 2018 |
Most people on Nairaland have over N5m on their MMM account 31 Likes 2 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Oyindidi(f): 7:28pm On Jul 18, 2018 |
Even if them use jazz, oyin no go fall for their trap 6 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Einl(m): 7:28pm On Jul 18, 2018 |
Dem no de learn? |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Darkseid(m): 7:29pm On Jul 18, 2018 |
Nigeria itself is a Ponzi scheme 25 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by nabegibeg: 7:29pm On Jul 18, 2018 |
Bilaludeen: Greed and false hope will not allow them get sense |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by sykeng(m): 7:29pm On Jul 18, 2018 |
Days of twinkas and MMM. Naija I hail 3 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Pavore9: 7:30pm On Jul 18, 2018 |
SEC is just wasting time, many are eagerly waiting for t[he next Ponzi scheme. When greed motivates, reasoning diminishes. 28 Likes 2 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Hofbrauhaus(m): 7:31pm On Jul 18, 2018 |
Mtxheeew |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by abike12(f): 7:32pm On Jul 18, 2018 |
dem go hear word? |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by inoki247: 7:32pm On Jul 18, 2018 |
some Ponzi scheme na Bittcoin dem dey use scope pipul to join... 7 Likes |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by LazyNairalander(m): 7:33pm On Jul 18, 2018 |
MMM.
Comes to mind. check my SIGNATURE 1 Like |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by MANNABBQGRILLS: 7:33pm On Jul 18, 2018 |
Sanchase:Like seriously?! 3 Likes 2 Shares |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Seconsol92(m): 7:33pm On Jul 18, 2018 |
Nigeria a Sithole country is the new MMM 1 Like |
Re: Avoid Ponzi Schemes! SEC Warns Nigerians by Toecyn(m): 7:34pm On Jul 18, 2018 |
There is nothing better than ponzi scheme not even shares. This what some people will be thinking right now. 5 Likes
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Re: Avoid Ponzi Schemes! SEC Warns Nigerians by mctfopt: 7:35pm On Jul 18, 2018 |
People are running ponzi as I type 4 Likes |
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