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Nigeria's SEC Vows to Tackle Ponzi Schemes in Capital Market

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CAPITAL MARKET,INVESTORS,SEC

The Securities and Exchange Commission (SEC) of Nigeria has pledged to combat Ponzi schemes and fraudulent activities in the country's capital market. Director General Dr. Emomotimi Agama stated that the SEC would strengthen its regulatory framework in 2025 to protect investors and enhance trust in securities transactions. The SEC aims to revamp its investigative processes and introduce measures for greater transparency in the market.

Nigeria's Securities and Exchange Commission, SEC, has vowed to deal with Ponzi scheme operators and 'bad operators' in the country's capital market. Director General of SEC, Dr. Emomotimi Agama, disclosed this in his New Year message to the capital market community. According to him, in 2025, the SEC would strengthen its regulatory framework to deal with bad eggs in the system and protect investors.

reports that from 2023 to 2024 alone, Nigerians have lost over N92 billion to ponzi schemes and other fraudulent financial activities.

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