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The Securities and Exchange Commission has dispelled insinuations that MBA Capital and Trading Ltd is a registered capital market operator with the Commission.
This was contained in a statement signed by the Management of the SEC in Abuja Monday.
The regulatory body said:“The attention of the Securities and Exchange Commission (“the Commission”) has been drawn to a publication in one of the National Daily Newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading, Misan Sagay reportedly stated that he had verified “on-line” and ascertained that the company was registered with the Commission.
“The Commission said that MBA Capital and Trading has never been registered by the Commission.
It reminded the general public that by virtue of Section 38 (1) of the Investments and Securities Act (ISA) 2007, only persons and institutions registered with the Commission are permitted to engage in capital market activities.
It advised investing public to seek clarification as may be required through its established channels of communication on investment products advertised through conventional or online mediums.
It added that a list of registered capital market operators is available on the Commission’s website (http://sec.gov.ng/cmos/
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