The stock exchange and values commission (SEC) warned the public that does not invest in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited.
In a circular issued on Wednesday in Abuja, the commission said that its attention had been called attention to the activities of these entities, which are falsely presented as investments advisors and fund managers in the Nigerian capital market.
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He declared: “The attention of the stock exchange and securities commission has been attracted to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited who remains out as an investment advisor/Fund Administrator.
“The commission informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian capital market.”
Consequently, the SEC advised the public to refrain from committing to Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives with respect to any business in the Nigerian capital market.
“The Commission uses this means to reiterate that the transaction in the Nigerian capital market with unregistered and unregulated entities exposes investors to financial risk, including fraud and possible loss of investment.
“Therefore, the investor public is reminded to verify the status of companies and entities that offer investment opportunities in the dedicated portal of the Commission: www.sec.gov.ng/cmos, before making transactions with them,” added the SEC.
The general director of the SEC, Dr. Emomotimi Agama, had recently warned that the Commission would not hesitate to close the operations of such unregistered entities, while guaranteeing that the promoters are made to face the entire weight of the law.
Agama said: “We will close their operations and the promoters will be made in front of the entire weight of the law.
“In an important reform, ISA 2025 officially offers digital assets under the regulatory scope of the SEC, defining them as values and ordering the registration for all suppliers of virtual asset services (Vasps) and exchanges of digital assets. This development aims to close the regulatory vacuum cleaner.
Agama also emphasized that with the strategy focused on the education of the commission to combat fraud through podcasts, digital campaigns and the introduction of the literacy of the capital market in schools and universities, the SEC aims to equip Nigerians with knowledge to detect and avoid doubtful investments.
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