The Securities and Exchange Commission (SEC) on Wednesday, said the Commission was partnering with other regulatory bodies to get rid of fraudulent investment outfits in the Nigerian capital market to boost investors’ confidence. Mr Mounir Gwarzo, Director General of SEC, stated this at the 2017 World Savings Day and Financial Literacy Week held in Lagos.
Gwarzo said that the Commission was working with other regulatory bodies to combat proliferation of fraudulent investment outfit in the nation’s capital market.
Represented by Mr Henry Rowland, Director Investment Services, the SEC boss, stated that the Commission was committed to ensuring zero tolerance to fraudulent activities in the market.
“We are partnering with CBN, NIBBS, PENCOM, CSCS and other regulatory bodies to combat the negative effects of fraudulent investment outfits in the market.”
He, however, stressed the need for prospective investors to seek the help of financial advisers while investing in the capital market to confirm those financial outfits that are registered with the Commission.