The Securities and Exchange Commission (SEC) of Nigeria has banned six online trading platforms as part of its ongoing assault on illicit and unregistered enterprises. The Commission stated in a circular issued on Monday in Abuja that the platforms purported to offer investment and financial services and products.
According to the circular, the platforms were not registered with the SEC, and the financial services they provided were also not authorized.
The Commission included Prime Invest and “Primeinv.co,” FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC, and Trust Fund- Mining Global Pty Ltd in the circular.
“’ The Commission’s attention has been drawn to the under-listed e-commerce companies and their websites offering online trading platforms to the investing public.
“Members of the public are advised to adopt the greatest diligence in making investment choices.
”In view of the above, the general public is hereby warned that any person dealing with the above mentioned e-commerce websites is doing so at his or her own risk,” the SEC said.
The SEC had earlier warned against patronising a set of firms blacklisted by Italy’s securities regulator, Commissione Nazionale per le Soecieta’ e la Borsa (CONSOB).
