![]() He was quoted in a statement as saying, “The Nigerian financial sector is experiencing a resurgence of Ponzi schemes and illegal fund managers.”Īccording to him, they lure subscribers by making promises of huge and unjustifiable returns on investment and still enjoy massive patronage from Nigerians. Mr Lamido Yuguda, the Director-General, SEC, made the pledge at an enlightenment workshop and investor clinic session with the Federal Ministry of Finance, Budget and National Planning and its agencies in Abuja this week. The Securities and Exchange Commission has vowed to continue to crack down on Ponzi schemes and illegal fund managers amid the recent resurgence of their activities.
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