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SEC blacklists six online trading platforms, warns investing public

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The Securities and Exchange Commission (SEC) has blacklisted six online trading platforms in its latest crackdown on illegal and unregistered firms claiming to offer investment and finance services or products.

In a circular posted on its website, the commission said that the blacklisted firms were not registered with it and thus unauthorized to carry out such investment services.

“The Commission’s attention has been drawn to the underlisted e-commerce companies and their websites offering online trading platforms to the investing public. They are not registered with the SEC in Nigeria, and the financial services offered by them are also not authorized.

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The commission listed the blacklisted companies as Prime Invest and “Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC, and Trust Fund-Mining Global Pty Limited.

The commission went on to urge members of the public to be cautious when dealing with the blacklisted firms.

“Members of the public are advised to adopt the greatest diligence in making investment choices.

“In view of the above, the general public is hereby WARNED that any person dealing with the above mentioned e-commerce websites is doing so at his/her own risk,” the commission wrote in the circular.

(omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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