The Securities and Exchange Commission on Wednesday warned Nigerians against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society.
In a circular issued in Abuja, the SEC said the scheme was not registered to operate in any capacity in the country’s capital market.
The commission said its attention had been drawn to the activities of the entity posing as investment advisers and fund managers.
The circular read: “The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited, which holds itself out as an Investment Adviser/Fund Manager.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market.
The SEC advised Nigerians to refrain from engaging with Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives on any business in the capital market.
“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk, including fraud and potential loss of investment.
”The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s dedicated portal www.sec.gov.ng/cmos, before transacting with them,” the circular added.
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