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SEC proposes N20m fine, jail terms for Ponzi scheme operators

In a bid to ensure that illegal fund managers are not allowed to fleece unsuspecting Nigerians of their hard-earned funds, the Securities and Exchange Commission is introducing an express prohibition of Ponzi/Pyramid schemes and other illegal investment schemes. These and other provisions are contained in the Investments and Securities Bill (ISB) 2024, currently before the […]

SEC proposes N20m fine, jail terms for Ponzi scheme operators
Tribune Online