The Securities and Exchange Commission (SEC) yesterday expressed concerns over the proliferation of Ponzi schemes in Nigeria owing to the devastating impact of the COVID-19 pandemic, the low-interest rate environment as well as the increased use of online services for interaction and transactions.
It described the continued activities of such schemes as a threat to the protection of investors, the functioning of a fair and orderly financial market as well as the development of the economy.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article