Follow Us on Google Discover
- T he Securities and Exchange Commission has cautioned investors in Nigeria against transacting business with Converged Dynamic International Limited allegedly engaging in illegal practice.
- SEC, in a statement on Thursday, said that the company is an unregistered firm dealing in a product tagged “Resources Investment Account” offering interest rates in short and medium terms so as to lure the unsuspecting members of the public.
- The Commission, hereby, notifies the investing public that the operation of this investment scheme is not registered by the Commission and has no tangible business model, hence it’s a Ponzi scheme.”
- It stated that the operation is illegal because it is “a scheme where returns are paid from other people’s invested sum”.
- “The general public is hereby advised to desist from investing in products marketed by the company.”
- Source: Punch
Follow Us on Google Discover
Stanbic IBTC PMI: Nigeria’s private sector expands for fifth consecutive month in June
Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134
Warning: Undefined variable $post_id in /var/www/nairametrics/wp-content/themes/nairametrics/comments.php on line 134