NOA, SEC partner to tackle ponzi schemes, investment scams in Nigeria
The Securities and Exchange Commission (SEC) has announced plans to collaborate with the National Orientation Agency (NOA) to tackle illegal schemes, including ponzi schemes and investment scams, across the country.
The announcement was made in Abuja on Thursday by the SEC Director General, Dr. Emomotimi Agama. He noted that while the capital market is a vital tool for national development, it can sometimes be exploited by criminals to defraud unsuspecting Nigerians.
“These are not supposed to happen, but many people fall victim due to a lack of knowledge,” Agama said.
He added that the SEC, taking a proactive approach, is working to educate the public on how to avoid such fraudulent schemes, which is the purpose of its partnership with the NOA.
To ensure the message reaches as many Nigerians as possible, the SEC DG emphasised the importance of working with the NOA, given its wide-reaching communication channels and capacity for mass outreach.
“This collaboration is crucial in ensuring that Nigerians are no longer victims of these scams. We appreciate your dedication to this country, and we value the work that you do,” he said.
Responding, NOA Director General Mallam Lanre Issa-Onilu praised the SEC for the recent achievements of the capital market, noting that its successes have not received enough recognition.
He assured that the NOA would provide full support and cooperation in the campaign.
