SEC urges Nigerians to avoid deals with FinAfrica, Poyoyo Investment

A circular by the management of SEC and published on the commission’s website said the activities of the companies were not registered by it.

”The company claimed to be an investment company that engages in business development in commercial sectors of the economy and uses the funds in entities under Chinmark Group. “The commission hereby notifies the investing public that Poyoyo Investment Nigeria Limited have no tangible business model, hence it is a Ponzi scheme where returns are paid from other people’s invested sum,” it added.

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